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Metro Inc. Announces Closing of Aggregate C$300 Million Senior Unsecured Notes Offering
Metro Inc. Announces Closing of Aggregate C$300 Million Senior Unsecured Notes Offering ...
About this update from Metro Inc.
[{"type":"text","content":"\n \n \n \n Metro Inc. Announces Closing of Aggregate C$300 Million Senior Unsecured Notes Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTRÉAL\n \n ,\n \n \n Feb. 6, 2023\n \n \n /CNW Telbec/ - METRO INC. (\"Metro\") today announced the closing of the previously announced private placement offering of\n \n C$300 million\n \n aggregate principal amount of 4.657% Series K Senior Unsecured Notes due\n \n February 7, 2033\n \n (the \"Series K Notes\").\n \n \n \n \n \n \n \n \n \n The Series K Notes are being offered through an agency syndicate consisting of BMO Capital Markets, National Bank Financial Inc. and RBC Dominion Securities Inc. as co-lead managers and joint bookrunners and CIBC World Markets Inc., Desjardins Securities Inc., Scotia Capital Inc., TD Securities Inc. and Casgrain & Company Limited as co-managers.\n \n \n The Series K Notes, which carry a coupon of 4.657%, were priced at\n \n $1\n \n ,000 per\n \n $1,000\n \n principal amount, for an effective yield of 4.657% per annum if held to maturity.\n \n \n Metro intends to use the proceeds of the offering to repay existing indebtedness under its revolving credit facility and for general corporate purposes.\n \n \n Considering the bond forward contracts previously entered into, Metro estimates that the effective blended interest rate of the Series K Notes will correspond to approximately 4.71% per annum.\n \n \n The Series K Notes are direct unsecured obligations of Metro and rank\n \n pari passu\n \n with all other unsecured and unsubordinated indebtedness of Metro.\n \n \n The Series K Notes are being offered in\n \n Canada\n \n on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation and are rated BBB with a positive trend, by DBRS Limited, and BBB by Standard & Poor's Ratings Services.\n \n \n \n This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicit...