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SNC-Lavalin announces private offering of $300 million of unsecured debentures
SNC-Lavalin announces private offering of $300 million of unsecured debentures ...
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[{"type":"text","content":"\n \n \n \n SNC-Lavalin announces private offering of $300 million of unsecured debentures\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 \n MONTREAL\n \n \n ,\n \n \n Nov. 22, 2022\n \n \n /CNW Telbec/ - SNC-Lavalin Group Inc. (TSX: SNC) a fully integrated professional services and project management company with offices around the world, announced today that it has priced an offering of\n \n $300 million\n \n aggregate principal amount of 7.0% Series 7 unsecured debentures due\n \n June 12, 2026\n \n . The Series 7 Debentures are being offered through a syndicate of agents led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, and Scotia Capital Inc. as joint bookrunners, and which also includes RBC Dominion Securities Inc., TD Securities Inc., BNP Paribas (\n \n Canada\n \n ) Securities Inc., HSBC Securities (\n \n Canada\n \n ) Inc., BofA Securities, SMBC Nikko, Citigroup Global Markets Canada Inc., and Desjardins Securities Inc. The Series 7 Debentures will be issued at par and closing is expected to occur on or about\n \n December 12, 2022\n \n , subject to customary closing conditions. SNC-Lavalin intends to use the net proceeds of the offering to repay existing indebtedness and for general corporate purposes.\n \n \n The Series 7 Debentures will bear interest at a fixed annual rate of 7.0%, payable in equal semi-annual instalments, in arrears, on\n \n June 12\n \n and\n \n December 12\n \n of each year until maturity, commencing on\n \n June 12, 2023\n \n .\n \n \n The Series 7 Debentures will be direct unsecured obligations of SNC-Lavalin, will rank pari passu with all other unsecured and unsubordinated indebtedness of SNC-Lavalin (including all of its other existing debentures as well as indebtedness under its existing main credit agreement) and will be guaranteed by the same subsidiaries that guarantee SNC-Lavalin's obligations under its existing main credit agreement and its other outstanding debentures.\n \n \n The Series 7 Debentures have been assigned a provisional rating of BB ...