CAMBRIDGE, ON, Dec. 29, 2020 /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announces the closing of its private offering of US$350 million aggregate principal amount of Senior Notes due 2028 (the "Notes"). The Notes were issued at par, bear interest at a rate of 4.125% per annum and mature on December 15, 2028 . ATS intends to use the net proceeds from the offering of the Notes to fund the redemption of its outstanding 6.500% Senior Notes due 2023 (the "Existing Notes") on or about January 13, 2021 , and to use the remainder of the net proceeds for general corporate purposes.
About ATS
ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services, including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, chemicals, consumer products, electronics, food, beverage, transportation, energy, and oil and gas. Founded in 1978, ATS employs approximately 4,200 people at 20 manufacturing facilities and over 50 offices in North America , Europe , Southeast Asia and China . The Company's shares are traded on the Toronto Stock Exchange under the symbol ATA.
Note to Readers: Forward-Looking Statements:
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ATS, or developments in ATS' business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that are based on assumptions about future economic conditions and courses of action. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements relate to, among other things, the use of proceeds from the offering. The risks and uncertainties that may affect forward-looking statements include the risks detailed from time to time in ATS' filings with Canadian provincial securities regulators. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and other than as required by applicable securities laws, ATS does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
SOURCE ATS Automation Tooling Systems Inc.
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