By Cristal Cody
Tupelo, Miss., Oct. 29 – Dollarama Inc. priced C$500 million of 3.55% five-year senior notes in a Canadian private placement offering on Monday at 99.537 to yield 3.652%, according to a news release.
The notes (DBRS: BBB) are due Nov. 6, 2023.
CIBC World Markets Inc., RBC Dominion Securities Inc. and TD Securities Inc. were the bookrunners and co-lead private placement agents.
Dollarama plans to use the proceeds to repay C$400 million of outstanding 3.095% senior notes due Nov. 5, 2018, to repay debt outstanding under its revolving credit facility and for general corporate purposes.
The dollar store operator is based in Montreal.
| Issuer: | Dollarama Inc.
|
| Amount: | C$500 million
|
| Maturity: | Nov. 6, 2023
|
| Securities: | Senior notes
|
| Bookrunners: | CIBC World Markets Inc., RBC Dominion Securities Inc. and TD Securities Inc.
|
| Co-managers: | National Bank Financial Inc., Desjardins Securities Inc., Scotia Capital Inc. and Casgrain & Co. Ltd.
|
| Coupon: | 3.55%
|
| Price: | 99.537
|
| Yield: | 3.652%
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 5
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada private placement
|
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