LAVAL, QC, May 13, 2021 /PRNewswire/ - Alimentation
Couche-Tard Inc. ("Couche-Tard" or the "Company") (TSX: ATD.A)
(TSX: ATD.B) announced today that it has successfully closed a
private debt offering consisting of two tranches of notes
(together, the "Notes"):
- US$650 million aggregate
principal amount of 3.439% Senior Unsecured Notes due 2041 ("2041
Notes")
- US$350 million aggregate
principal amount of 3.625% Senior Unsecured Notes due 2051 ("Green
Bonds")
The Notes are senior unsecured obligations of Couche-Tard and
rank equally and pari passu with Couche-Tard's current and
future unsecured and unsubordinated indebtedness and are 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.
Couche-Tard intends to use the net proceeds from the sale of the
2041 Notes, combined with cash on hand, to redeem all of its
US$1 billion outstanding Senior
Unsecured Notes due July 26, 2022.
The Green Bonds, the first of their kind by a convenience and fuel
retailer, will be used to further the Company's commitment towards
driving a more responsible future.
Brian Hannasch, President and CEO
of Couche-Tard said: "This initiative marks an important milestone
in our journey to create sustainable value for all our
stakeholders. We have already set our sights high by establishing
ambitious 2025 sustainability targets and are now taking a further
step towards providing greater transparency and engagement on our
efforts to have a positive impact on the world around us."
As outlined in the Couche-Tard Green Bond Framework, an amount
equal to the net proceeds of the Green Bonds will be used to
finance or refinance, in whole or in part, Couche-Tard's new or
existing environmentally friendly projects and community
initiatives in six categories: clean transportation; energy
efficiency; renewable energy; pollution prevention and control;
sustainable water and wastewater management; and green
buildings.
"We are pleased to announce the successful closing of this new
debt offering and proud to add our first ever green bonds to our
capital structure," said Claude
Tessier, Chief Financial Officer of Couche–Tard. "This
transaction improves the Company's already sound balance sheet by
extending our debt maturities at attractive rates, while also
financing projects that support Couche-Tard's aim to drive a low
carbon and sustainable future."
Ina Strand, Chief People Officer,
who leads Couche-Tard's efforts in sustainability, added: "With the
launch of our second sustainability report in 2020, we created a
more defined framework and strengthened how we incorporate
sustainability in our way of thinking and decision-making, making
it now a lens to our business and pushing forward our commitment to
actionable results."
Couche-Tard plans to issue an annual report on the use of net
proceeds from the Green Bonds and its expected environmental
impact. ISS ESG, one of the world's leading rating agencies in the
field of sustainable investment, provided a second party opinion on
the environmental benefits of the Couche-Tard Green Bond Framework
as well as its alignment with the four core components of the Green
Bond Principles, 2018 as administered by the International Capital
Market Association.
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 14,200
stores, of which approximately 10,800 offer road transportation
fuel. With its well-known Couche-Tard and Circle K banners, it is
the largest independent convenience store operator in terms of the
number of company-operated stores 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. Approximately 135,000
people are employed throughout its network.
Forward-Looking Statements
The statements set forth in this press release, which describes
Couche-Tard's objectives, projections, estimates, expectations or
forecasts, may constitute forward looking statements within the
meaning of securities legislation. Positive or negative verbs such
as "believe", "can", "shall", "intend", "expect", "estimate",
"assume" and other related expressions are used to identify such
statements. 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. Major factors that may lead to a material
difference between Couche Tard's actual results and the projections
or expectations set forth in the forward-looking statements include
the effects of the integration of acquired businesses and the
ability to achieve projected synergies, uncertainty related to the
duration and severity of the current COVID-19 pandemic,
fluctuations in margins on motor fuel sales, competition in the
convenience store and retail motor fuel industries, exchange rate
variations, the intended use of proceeds thereof and potential
changes in markets conditions, and such other risks as described in
detail from time to time in the reports filed by Couche-Tard with
securities regulatory authorities in Canada. 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.