Business
Metro Inc. Announces Closing of Aggregate C$400 Million Senior Unsecured Notes Offering
Metro Inc. Announces Closing of Aggregate C$400 Million Senior Unsecured Notes Offering ...
About this update from Metro Inc.
[{"type":"text","content":"\n\n\n\nMetro Inc. Announces Closing of Aggregate C$400 Million Senior Unsecured Notes Offering\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\nCanada NewsWire\nMONTRÉAL, Feb. 26, 2020\n\n\n\nMONTRÉAL, Feb. 26, 2020 /CNW Telbec/ - METRO INC. (\"Metro\") today announced the closing of a private placement offering of C$400 million aggregate principal amount of 3.413% Series I fixed rate senior unsecured notes due February 28, 2050 (the \"Notes\"). \nThe Notes are being offered through an agency syndicate consisting of BMO Capital Markets, National Bank Financial Markets and RBC Capital Markets as co-lead managers and co-bookrunners, together with CIBC Capital Markets, Scotiabank, TD Securities, Desjardins Securities and MUFG Securities (Canada) as co-managers.\nThe Notes, which carry a coupon of 3.413%, were priced at $1,000 per $1,000 principal amount, for an effective yield of 3.413% per annum if held to maturity.\nMetro intends to use the net proceeds of the offering of the Notes for the repayment of Metro's Series E Notes at maturity as well as for general corporate purposes.\nThe Notes are direct unsecured obligations of Metro and rank pari passu with all other unsecured and unsubordinated indebtedness of Metro.\nThe Notes are being offered in Canada 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. \nThis 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, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful. \nThe Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered, sold or delivered in the United States of America or its territories or possessions or to U.S. persons exc...