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AutoCanada eyes C$100 million add-on to 8¾% notes due 2025
By Rebecca Melvin
Concord, N.H., April 15 – AutoCanada Inc. intends to offer an additional C$100 million principal amount of 8¾% senior notes due 2025, according to a company news release.
The notes will be offered and sold on a private placement basis via Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. acting as joint bookrunning managers and HSBC Securities (Canada) Inc. as lead manager.
ATB Capital Markets Inc., Canaccord Genuity Corp., Cormark Securities Inc., Stifel Nicolaus Canada Inc., Acumen Capital Finance Partners Ltd. and National Bank Financial Inc. are co-managers.
The proceeds will be used to reduce the company’s outstanding balance under a syndicated credit facility and for general corporate purposes, including acquisitions.
The franchise automobile dealership group based in Edmonton, Alta.
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