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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 MONTRÉAL,\n \n Nov. 30, 2021\n \n /CNW Telbec/ - METRO INC. today announced the closing of the previously announced private placement offering of\n \n C$300 million\n \n aggregate principal amount of 1.922% Series J Senior Unsecured Notes due\n \n December 2, 2024\n \n (the \"Series J Notes\").\n \n \n The Series J Notes are being offered through an agency syndicate consisting of BMO Capital Markets, Scotia Capital Inc. and TD Securities Inc. as co-lead managers and co-bookrunners and CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and Casgrain & Company Limited as co-managers.\n \n \n The Series J Notes, which carry a coupon of 1.922%, were priced at\n \n $1,000\n \n per\n \n $1,000\n \n principal amount, for an effective yield of 1.922% per annum if held to maturity.\n \n \n Metro intends to use the proceeds of the offering for the repayment of the Series C senior unsecured notes due\n \n December 1, 2021\n \n and for general corporate purposes.\n \n \n In conjunction with this offering, Metro entered into a\n \n C$300 million\n \n interest rate swap effectively locking in a floating rate of interest of 11 basis points (0.11%) over the 3-month bankers' acceptance rate (CDOR) over the life of the Series J Notes.\n \n \n The Series J 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 J 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 stable 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...