CALGARY,
AB, Aug. 12, 2024 /PRNewswire/ - Parkland
Corporation ("Parkland", "we", the "Company", or "our") (TSX: PKI)
announced today that, subject to market and other conditions, it
plans to commence a private offering of US$500 million aggregate principal amount of
senior unsecured notes due 2032.
Parkland intends to use the net proceeds of the offering for the
repayment of a portion of the outstanding drawings under its credit
facilities.
Consummation of the offering is subject to market and other
conditions, and there can be no assurance that Parkland will be
able to successfully complete the offering on the terms described
above, or at all.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any offer or sale of the notes in any state, or jurisdiction in
which such offer, solicitation, or sale would be unlawful.
The notes have not been registered under the Securities Act or
any state securities laws, and unless so registered, may not be
offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The notes will
be offered and sold only to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the U.S.
Securities Act of 1933, as amended (the "Securities Act") and may
be offered and sold outside the United
States pursuant to Regulation S under the Securities Act.
In addition, the notes have not been and will not be
qualified for distribution to the public under applicable Canadian
securities laws and, accordingly, any offer and sale of the notes
in Canada will be made on a basis
which is exempt from the prospectus requirements of such securities
laws. The notes will be offered and sold in Canada on a private placement basis only to
"accredited investors" pursuant to certain prospectus
exemptions.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements based on current expectations, including the size and
terms of the offering and the use of proceeds from the offering if
and when commenced and closed. By their nature, forward-looking
statements require us to make assumptions and are subject to
important known and unknown risks and uncertainties, which may
cause our actual results in future periods to differ materially
from those set forth in the forward-looking statements.
Any forward-looking statements are made as of the date hereof
and Parkland does not undertake any obligation, except as required
under applicable law, to publicly update or revise such statements
to reflect new information, subsequent or otherwise. The
forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
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SOURCE Parkland Corporation