Parkland Announces Closing of Senior Unsecured Notes Offering
The Notes were offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, June 16, 2021 (GLOBE NEWSWIRE) -- Parkland Corporation ("Parkland", "we", the "Company", or "our") (TSX:PKI) announced today the closing of its previously announced private placement (the "Offering") of $600 million aggregate principal amount of 3.875% senior unsecured notes due 2026 (the "Notes").
Parkland will use the net proceeds of the Offering to repay certain outstanding amounts borrowed under its existing revolving credit facilities and for general corporate purposes.
The Notes were offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions. The Notes have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and were offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act and applicable state securities laws and outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act. This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward-looking statements”). When used in this news release the words “may”, “will”, “would” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the use of proceeds from the Offering and the repayment of certain outstanding amounts under Parkland’s revolving credit facilities.
No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. See the risks and uncertainties described in "Forward-Looking Information" and "Risk Factors" included in Parkland's Annual Information Form dated March 5, 2021 and in "Forward-Looking Information" and "Risk Factors" in the management’s discussion and analysis for the year ended December 31, 2020, dated March 4, 2021, which are filed on SEDAR and available on the Parkland website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
About Parkland Corporation
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.
Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.
For Further Information
Investor Inquiries
Brad Monaco
Director, Capital Markets
587-997-1447
[email protected]
Media Inquiries
Simon Scott
Director, Corporate Communications
403-956-9272
[email protected]
