LAVAL, QC, May 9, 2022 /CNW Telbec/ - Alimentation Couche-Tard Inc. ("Couche‑Tard" or the "Corporation") (TSX: ATD) announced today that it has established a commercial paper program in the United States (the "US Commercial Paper Program") on a private placement basis.
Under the terms of the US Commercial Paper Program, Couche-Tard may issue, from time to time, unsecured commercial paper notes with maturities not in excess of 397 days from the date of issue (the "Notes"). The aggregate principal amount of Notes outstanding at any one time under the US Commercial Paper Program will not exceed US $2.5 billion. Couche-Tard intends to use the proceeds from the issuance of Notes for general corporate purposes.
The Notes will be senior unsecured obligations of the Corporation and will rank equally and pari passu with all of its current and future senior unsecured and unsubordinated indebtedness. The Notes will be guaranteed on a senior unsecured basis by certain of Couche-Tard's wholly owned subsidiaries who are guarantors under Couche-Tard's senior credit facilities. The Corporation's main revolving credit facility, available for a total amount of US $2,525 million, will serve as a liquidity backstop for the repayment of the Notes issued under the US Commercial Paper Program.
The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and may not be offered or sold to or purchased by any resident of Canada.
The Notes to be offered under the US Commercial Paper Program have not been and will not be registered under the Securities Act of 1933, as amended, or under any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer to sell or a solicitation of an offer to buy the Notes in the United States or any jurisdiction where it is unlawful to do so.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and fuel retail, operating in 26 countries and territories, with more than 14,100 stores, of which approximately 10,800 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operator in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong SAR. Approximately 124,000 people are employed throughout its network.
For more information on Alimentation Couche-Tard Inc., please visit: https://corpo.couche-tard.com.
Forward-Looking Statements
Certain statements in this press release may constitute forward looking statements within the meaning of securities legislation, including those with respect to the issuance of the Notes as well as the use of proceeds therefrom. Positive or negative verbs such as "believe", "can", "shall", "intend", "expect", "estimate", "assume" and other related expressions are used to identify such statements. Such statements are based upon the current beliefs and expectations of Couche-Tard and are subject to significant risks and uncertainties outside of Couche-Tard's control. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated in or underlying these statements, or could have an impact on the degree of realization of a particular projection. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release.
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SOURCE Alimentation Couche-Tard Inc.
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