08:29 AM EST, 11/08/2021 (MT Newswires) -- Parkland Corporation (PKI.TO), a convenience store operator and independent supplier and marketer of fuel and petroleum products, announced Monday it plans a private offering of US$500 million aggregate principal amount of senior unsecured notes due 2030.
Net proceeds will be used to redeem all of the outstanding $300 million aggregate principal amount of the 6.5% Senior Notes, with a final maturity date of Jan 21, 2027 and to repay part of the drawings under the revolving bank credit facility. Amounts repaid may be redrawn for general corporate purposes, including acquisitions and capital spending. A redemption notice will be delivered by Parkland on Monday for the 6.5% Senior Notes. Redemption will depend on the completion of the offering.