MONTREAL, Feb. 18, 2020 /CNW Telbec/ - Dollarama Inc.
(TSX: DOL) ("Dollarama" or the "Corporation") announced
today that it has established a commercial paper program in
the United States
(the "US Commercial Paper Program") on a private
placement basis.
Under the terms of the US Commercial Paper Program, the
Corporation may issue, from time to time, unsecured commercial
paper notes with maturities not in excess of 397 days from the date
of issue (the "Notes"). The aggregate principal amount of
Notes outstanding at any one time under the US Commercial
Paper Program will not exceed US$500 million. The
Corporation intends to use the proceeds from the issuance of
Notes for general corporate purposes.
The Notes will be direct unsecured obligations of the
Corporation and will rank equally with all of its other unsecured
and unsubordinated indebtedness. The Notes will be unconditionally
guaranteed by Dollarama L.P. and Dollarama GP Inc., each a
wholly-owned subsidiary of the Corporation. The Corporation's
revolving credit facility, upsized on February 14, 2020 from C$500 million to C$800 million, will serve
as a liquidity backstop for the repayment of the Notes issued under
the US Commercial Paper Program.
The Notes have not been and will not be qualified for sale to
the public under applicable securities laws in Canada and may not be offered or sold to any
resident of Canada.
The Notes to be offered under the US Commercial Paper Program
have not been and will not be registered under the Securities Act
of 1933, as amended, or under any state securities laws, and may
not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any offer to sell or a solicitation of an offer to buy the
Notes in the United States or any
jurisdiction where it is unlawful to do so.
Forward-Looking Statements
Certain statements in this press release about the timing of the
proposed issuance of the Notes, the expected use of the proceeds
from the issuance, and any other future events or developments
constitute forward-looking statements.
Forward-looking statements are based on information currently
available to management and on estimates and assumptions made by
management in light of its experience and perception of historical
trends, current conditions and expected future developments, as
well as other factors that are believed to be appropriate and
reasonable in the circumstances. However, there can be no assurance
that such estimates and assumptions will prove to be correct. Many
factors could cause future events or developments to differ
materially from those expressed or implied by the forward-looking
statements, including, without limitation, the factors discussed in
the "Risks and Uncertainties" section of the Corporation's annual
management's discussion and analysis and in its annual information
form for Fiscal 2019, both available on SEDAR at
www.sedar.com.
Readers should not place undue reliance on forward-looking
statements made herein. Furthermore, unless otherwise stated, the
forward-looking statements contained in this press release are made
as at February 18, 2020 and the Corporation has no intention
and undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
The forward-looking statements contained in this press release
are expressly qualified by this cautionary statement.
About Dollarama
Dollarama is a recognized Canadian value retailer offering a
broad assortment of consumer products, general merchandise and
seasonal items both in-store and online. Our 1,271 locations across
Canada provide customers with
compelling value in convenient locations, including metropolitan
areas, mid-sized cities and small towns. Select products are also
available, by the full case only, through our online store at
www.dollarama.com. Our quality merchandise is sold at select, fixed
price points up to $4.00.
Dollarama also owns a 50.1% interest in Dollarcity, a growing
Latin American value retailer. Dollarcity offers a broad assortment
of consumable products, general merchandise and seasonal items at
select, fixed price points up to US$3.00 (or the equivalent in local currency)
through its 210 conveniently-located stores in Colombia, El
Salvador and Guatemala.
www.dollarama.com
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SOURCE Dollarama Inc.