PKIUF - Parkland to raise $500M in senior notes offering

Parkland (OTCPK:PKIUF) plans to commence a private offering of $500M principal amount of senior unsecured notes due 2030. Net proceeds to be used for redeeming all of the outstanding $300M principal amount of its 6.5% Senior Notes with a final maturity date of Jan.21, 2027 and repay a portion of the drawings under its revolving bank credit facility. Amounts repaid may be redrawn for general corporate purposes, including acquisitions and capital spending.

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Parkland to raise $500M in senior notes offering