Parkland Prices $500 Million Unsecured Notes Offering

Parkland (TSE:PKI) has released an update.

Parkland Corporation has announced the pricing of its $500 million senior unsecured notes offering at par, with a fixed interest rate of 6.625% per annum, maturing in 2032. The company plans to use the proceeds from this private offering to repay part of its existing credit facilities. The offering is targeted at qualified institutional buyers in the U.S. and will be sold in Canada to accredited investors without a public prospectus.

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