CALGARY, AB, Aug. 12, 2024 — Parkland Corporation is set to launch a private offering of senior unsecured notes totaling US$500 million, maturing in 2032, pending market conditions. This strategic financial move aims to streamline the company’s capital structure by utilizing the net proceeds to repay a portion of outstanding credit facility drawings.
The completion of this offering remains contingent upon market conditions, and there is no guarantee that Parkland will secure the desired terms for this initiative.
It is important to note that this announcement does not represent an offer to sell, nor does it solicit an offer to buy any securities, and no sales of these notes will occur in jurisdictions where such actions would be unlawful.
The notes will not be registered under the Securities Act or any state securities laws. Without such registration, the notes may only be offered or sold in the United States under applicable exemptions. The company will provide these notes to qualified institutional buyers according to Rule 144A of the U.S. Securities Act of 1933. Additionally, offerings outside the United States will proceed under Regulation S. In Canada, distribution will be limited to accredited investors under specific prospectus exemptions.
Forward-Looking Statements
This announcement contains forward-looking statements that reflect current expectations regarding the offering’s size, terms, and intended use of proceeds. Such statements are inherently subject to risks and uncertainties that could cause actual outcomes to differ significantly from expectations.
Forward-looking statements are made as of the release date, and the company does not assume any obligation to update these statements in light of new information, except as legally required. Such statements are explicitly qualified by this disclaimer.
