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Metro Inc. Prices Aggregate C$1.2 Billion Senior Unsecured Notes Offering
Metro Inc. Prices Aggregate C$1.2 Billion Senior Unsecured Notes Offering Canada N...
About this update from Metro Inc.
[{"type":"text","content":"\n\n\n\nMetro Inc. Prices Aggregate C$1.2 Billion 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, Nov. 29, 2017\n\n\n\nMONTRÉAL, Nov. 29, 2017 /CNW Telbec/ - METRO INC. (\"Metro\") today announced the pricing of a private placement offering of C$1.2 billion aggregate principal amount of senior unsecured notes, consisting of C$300 million aggregate principal amount of 2.68% Series F Senior Unsecured Notes due December 5, 2022 (the \"Series F Notes\"), C$450 million aggregate principal amount of 3.39% Series G Senior Unsecured Notes due December 6, 2027 (the \"Series G Notes\") and C$450 million aggregate principal amount of 4.27% Series H Senior Unsecured Notes due December 4, 2047 (the \"Series H Notes\", and together with the Series F Notes and the Series G Notes, the \"Notes\"). The Series F Notes will carry a coupon of 2.68% and were priced at $999.95 per $1,000 principal amount, for an effective yield of 2.681% per annum if held to maturity. The Series G Notes will carry a coupon of 3.39% and were priced at $999.41 per $1,000 principal amount, for an effective yield of 3.397% per annum if held to maturity. The Series H Notes will carry a coupon of 4.27% and were priced at $998.99 per $1,000 principal amount, for an effective yield of 4.276% per annum if held to maturity. Metro intends to use the proceeds of the offering to finance a portion of the purchase price for the previously announced acquisition of all of the issued and outstanding Class A subordinate voting shares and Class B shares of The Jean Coutu Group (PJC) Inc. (\"PJC\") (the \"Acquisition\") and for general corporate purposes. As a result, Metro will terminate the 1-year $1.2 billion term facility component of its previously announced committed bank facilities to finance the Acquisition. \n\nThe net proceeds from the offering will be placed in escrow and will be released from escrow upon satisfaction of the applicable escrow release conditions relating to the completion of the Acquisition. The Notes will be subject to a special...