TORONTO, June 11, 2018 /CNW/ - Canadian Tire Corporation,
Limited ("CTC") today announced the pricing of a private placement offering of C$650 million
aggregate principal amount of unsecured medium term notes, consisting of C$250 million aggregate
principal amount of 2.646% Series E Unsecured Medium Term Notes due July 6, 2020 (the "Series E
Notes") and C$400 million aggregate principal amount of 3.167% Series F Unsecured Medium Term
Notes due July 6, 2023 (the "Series F Notes" together with the Series E Notes, the
"Notes"). The Series E Notes were priced at par, for an effective yield of 2.646% per annum if held to maturity. The
Series F Notes were priced at par, for an effective yield of 3.167% per annum if held to maturity. The offering is expected to
close on or about July 3, 2018.
It is expected that the Notes will be rated "BBB (high)", with a stable trend, by DBRS Limited and
"BBB+", with a stable trend, by S&P Global Ratings, acting through Standard & Poor's Rating
Services (Canada), a business unit of S&P Global Canada Corp.
CTC intends to use the net proceeds of the offering to fund a portion of the purchase price of the previously announced
acquisition of Helly Hansen (the "Acquisition"), to repay indebtedness and/or for general corporate purposes.
The Notes will be subject to a special mandatory redemption in the event that the Acquisition has not occurred on or prior to
5:00 p.m. (Toronto time) on August 31,
2018 (the outside date under the acquisition agreement (the "Acquisition Agreement")) (or such later outside date
as agreed to in accordance with the Acquisition Agreement, which later date shall not be later than 60 days after August 31, 2018), or if, prior to such time, the Acquisition Agreement is terminated or if CTC delivers notice
that it does not intend to proceed with the Acquisition. The redemption price for any special mandatory redemption will be 100%
of the aggregate principal amount of the Notes, together with accrued and unpaid interest on the Notes from and including the
date of settlement up to but not including the date of the special mandatory redemption.
RBC Capital Markets and BMO Capital Markets acted as joint bookrunners for the offering.
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 Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered, sold or delivered in the
United States of America or its territories or possessions or to U.S. persons (as defined in Regulation S under the U.S.
Securities Act). The information in this press release is not complete and may be changed. This press release does not constitute
an offer to sell or a solicitation of an offer to buy any of the Notes in the United States or
to U.S. persons or in any other jurisdiction where it is unlawful to do so.
About Canadian Tire Corporation
Canadian Tire Corporation, Limited, (TSX:CTC.A) (TSX:CTC) or "CTC", is a family of businesses that includes a Retail segment,
a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and
provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal &
Gardening divisions. PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes
Mark's, a leading source for casual and industrial wear; Pro Hockey Life, the world's largest hockey centric retailer; and FGL
(Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport and Atmosphere), which offers the best active wear
brands. The approximately 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and
the tens of thousands of people employed across the country by the Company and its local dealers, franchisees and petroleum
retailers. For more information, visit Corp.CanadianTire.ca.
Forward‑Looking Statements
This press release contains forward-looking statements which reflect management's expectations related to expected future
events including, but not limited to, statements relating to CTC's expectations with respect to the offering and the intended use
of proceeds thereof, the credit ratings of the Notes and the Acquisition. This forward-looking information and the
forward-looking information incorporated by reference typically contains words such as "expects", "anticipates", "plans",
"believes", "estimates", "intends", "projects", "seeks", "likely", "potential" or negative versions thereof and other similar
expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". These forward-looking
statements are not facts, but only reflections of management's estimates and expectations. Although CTC believes that these
statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily
subject to a number of factors that could cause actual results to differ materially from management's expectations as set forth
in such forward-looking statements for a variety of reasons, including market and general economic conditions, risks and
uncertainties inherent to the offering and the Acquisition and the risks and uncertainties discussed in disclosure materials
filed from time to time by CTC with Canadian securities regulatory authorities, including under the section "Enterprise Risk
Management" of CTC's Management's Discussion and Analysis for the year ended December 30, 2017.
The forward-looking statements included in this press release are made only as of the date hereof and CTC does not undertake
to publicly update these forward-looking statements to reflect new information, future events or otherwise. In light of these
risks, uncertainties and assumptions, the forward-looking events contained in these forward-looking statements may or may not
occur. CTC cannot assure that projected results or events will be achieved.
SOURCE CANADIAN TIRE CORPORATION, LIMITED
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