TSX Symbol: WJX
TORONTO, Oct. 18, 2013 /CNW/ - Wajax Corporation ("Wajax" or the "Corporation") today announced the pricing of its new issuance of $125 million
aggregate principal amount of senior unsecured notes due 2020 (the "Notes"). The Notes will carry a coupon of 6.125% per annum, will be sold at
par and will mature on October 23, 2020. The net proceeds of the Notes
will be used to repay borrowings under the Corporation's senior secured
credit facilities, which in turn may be redrawn for general corporate
purposes. The offering of Notes is expected to close on October 23,
2013.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not constitute
an offer, solicitation or sale of any securities in any jurisdiction in
which such offering, solicitation or sale would be unlawful.
The securities mentioned herein have not been and will not be registered
under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any other jurisdiction, and may not be
offered or sold in the United States absent registration under, or an
applicable exemption from the registration requirements of, the U.S.
Securities Act. The securities mentioned herein have not been and will
not be qualified for sale to the public under applicable securities
laws in Canada and, accordingly, any offer and sale of the securities
in Canada will be made on a basis which is exempt from the prospectus
requirements of such securities laws.
Wajax Corporation
Wajax is a leading Canadian distributor engaged in the sale, rental and
after-sale parts and service support of mobile equipment, power systems
and industrial components, through a network of 126 branches across
Canada. The Corporation is a multi-line distributor and represents a
number of leading worldwide manufacturers across its core businesses.
Its customer base is diversified, spanning natural resources,
construction, transportation, manufacturing, industrial processing and
utilities.
Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking statements and
forward-looking information, as defined in applicable securities laws
(collectively, "forward-looking statements"). These forward-looking statements relate to future events or the
Corporation's future performance. All statements other than statements
of historical fact are forward-looking statements. Often, but not
always, forward looking statements can be identified by the use of
words such as "plans", "anticipates", "intends", "predicts", "expects",
"is expected", "scheduled", "believes", "estimates", "projects" or
"forecasts", or variations of, or the negatives of, such words and
phrases or state that certain actions, events or results "may",
"could", "would", "should", "might" or "will" be taken, occur or be
achieved. Forward looking statements involve known and unknown risks,
uncertainties and other factors beyond the Corporation's ability to
predict or control which may cause actual results, performance and
achievements to differ materially from those anticipated or implied in
such forward looking statements. There can be no assurance that any
forward looking statement will materialize. Accordingly, readers
should not place undue reliance on forward looking statements. The
forward looking statements in this news release are made as of the date
of this news release, reflect management's current beliefs and are
based on information currently available to management. Although
management believes that the expectations represented in such
forward-looking statements are reasonable, there is no assurance that
such expectations will prove to be correct. Specifically, this news
release includes forward looking statements regarding, among other
things, the expected timing and completion of the offering of Notes,
the use of net proceeds from the offering of Notes and the terms of the
Notes. These statements are based on a number of assumptions which may
prove to be incorrect, including, but not limited to, assumptions
regarding general business and economic conditions, the supply and
demand for, and the level and volatility of prices for, commodities,
financial market conditions, including interest rates, the future
financial performance of the Corporation, our costs, market
competition, our ability to attract and retain skilled staff, our
ability to procure quality products and inventory and our ongoing
relations with suppliers, employees and customers. The foregoing list
of assumptions is not exhaustive. Factors that may cause actual
results to vary materially include, but are not limited to, a
deterioration in general business and economic conditions, volatility
in the supply and demand for, and the level of prices for, commodities,
fluctuations in financial market conditions, including interest rates,
the level of demand for, and prices of, the products and services we
offer, market acceptance of the products we offer, termination of
distribution or original equipment manufacturer agreements,
unanticipated operational difficulties (including failure of plant,
equipment or processes to operate in accordance with specifications or
expectations, cost escalation, unavailability of quality products or
inventory, supply disruptions, job action and unanticipated events
related to health, safety and environmental matters), our ability to
attract and retain skilled staff and our ability to maintain our
relationships with suppliers, employees and customers. The foregoing
list of factors is not exhaustive. The forward-looking statements
contained in this news release are expressly qualified in their
entirety by this cautionary statement. The Corporation does not
undertake any obligation to publicly update such forward-looking
statements to reflect new information, subsequent events or otherwise
unless so required by applicable securities laws. Further information
concerning the risks and uncertainties associated with these forward
looking statements and the Corporation's business may be found in our
Annual Information Form for the year ended December 31, 2012, our
management's discussion and analysis for the year ended December 31,
2012, and our management's discussion and analysis for the three and
six months ended June 30, 2013, filed on SEDAR.
SOURCE Wajax Corporation
