CALGARY, AB, Aug. 16, 2024 — Parkland Corporation has successfully closed its private offering of $500 million in aggregate principal amount of 6.625% senior unsecured notes due 2032. This significant financial move is set to strengthen Parkland’s position in the market.
The net proceeds from this offering will primarily be used to repay a portion of the outstanding debt under its existing credit facilities.
The notes were exclusively offered to qualified institutional buyers in compliance with applicable regulations, with sales occurring outside of the United States under specific exemptions. In Canada, the offering was conducted on a private placement basis to accredited investors.
This announcement does not constitute an offer to sell or solicit any investments and is made in accordance with legal requirements.
Forward-Looking Statements
This announcement contains forward-looking statements based on current expectations and assumptions regarding the offering’s proceeds. These statements involve known and unknown risks and uncertainties that may lead actual results to deviate materially from projected outcomes.
Parkland does not assume any obligation to update these forward-looking statements unless required by law. All forward-looking statements are qualified by this statement of caution.
About Parkland Corporation
Parkland Corporation is a leading international fuel distributor, marketer, and convenience retailer, operating across 26 countries in the Americas. Serving over one million customers daily, Parkland’s extensive retail network caters to the fuel and convenience needs of consumers. The company also supplies industrial fuels to businesses, helping them enhance their service offerings while reducing environmental impact through options like renewable fuels, carbon trading, and EV charging solutions.
With a footprint of approximately 4,000 retail and commercial locations throughout Canada, the United States, and the Caribbean, Parkland is poised for growth through its dual focus on Customer and Supply Advantage strategies. These strategies enhance customer loyalty and ensure a cost-effective service model in challenging markets.
Parkland’s commitment to safety, integrity, community, and respect remains at the core of its operations, driving its business performance and organizational values.
