Parkland Announces Closing of Senior Unsecured Notes
(All financial figures are approximate and in Canadian dollars unless otherwise noted)
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, Nov. 21, 2018 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”) (TSX:PKI), Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator, announced today the closing of its previously announced private placement (the “Offering”) of $300 million aggregate principal amount of senior unsecured notes due January 21, 2027 (the “Notes”). The Notes bear interest at a rate of 6.50% per annum and were priced at par.
The Notes were conditionally offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions. The Notes have not been registered under the U.S. Securities Act, or any state securities laws, and were offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act and applicable state securities laws and outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act.
The securities offered have not been and will not be registered under the U.S. Securities Act or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
About Parkland Fuel Corporation
Parkland is Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator. Parkland services customers through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating the Parkland Burnaby Refinery, and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings, including its On the Run/Marché Express banners, in the communities it serves.
Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.
CONTACT: For Further Information Investor and Media Inquiries – French and English Investor Inquiries Ben Brooks Vice President, Treasury and Risk Management 403-567-2534 Ben.Brooks@parkland.ca Media Inquiries Leroy McKinnon Senior Specialist, Corporate Communications 403-567-2573 Leroy.McKinnon@parkland.ca