- Dollarama ( OTCPK:DLMAF ) has priced an offering of $700M aggregate principal amount of fixed rate senior unsecured notes to be issued in two series, consisting of $250M aggregate principal amount of 5.084% senior unsecured notes due October 27, 2025 and $450M aggregate principal amount of 5.165% senior unsecured notes due April 26, 2030.
- Considering the impact of hedging contracts previously entered into, Dollarama estimates that the effective blended interest rate of the 2025 Notes and the 2030 Notes will correspond to approximately 4.83% per annum, on a combined basis.
- Offering of the 2025 Notes and the offering of the 2030 Notes are not dependent or conditional upon each other and are expected to close on or about October 26, 2022.
- The 2025 Notes will be issued at par for aggregate gross proceeds of $250M and will bear interest at a fixed rate of 5.084% per annum, payable semi-annually, until maturity on the 27 th day of April and October of each year, commencing on April 27, 2023.
- The 2030 Notes will also be issued at par for aggregate gross proceeds of $450M and will bear interest at a fixed rate of 5.165% per annum, payable semi-annually until maturity on the 26 th day of April and October of each year, commencing on April 26, 2023.
- Net proceeds of the offering will be used to repay the $250M aggregate principal amount of the Corporation's outstanding 2.203% senior unsecured notes due November 10, 2022 at maturity, to repay a portion of its outstanding U.S. commercial paper notes, and for general corporate purposes.
For further details see:
Dollarama prices $700M debt offering