Stella-Jones announces private placement of $400 million CAD in unsecured senior notes

From Globe Newswire: 2024-09-26 17:25:00

Stella-Jones Inc. has set the price for its first offering of unsecured senior Canadian dollar-denominated notes, totaling $400 million CAD with an interest rate of 4.312% due on October 1, 2031. The proceeds will go towards repaying existing debts and general corporate purposes. The notes are being offered through a syndicate of dealers, with a closing date expected on October 1, 2024. The notes are rated “BBB” with a stable outlook by DBRS Limited. The offering is private in Canada and not registered under the U.S. Securities Act of 1933. Stella-Jones is a North American leader in manufacturing pressure-treated wood products for essential infrastructure.

Stella-Jones Inc. (TSX: SJ) is a provider of wood products for utility companies and railway operators in North America. The company also supplies industrial products for various infrastructure needs, including railway bridges and marine structures. The offering of unsecured senior notes is subject to market conditions and uncertainties, and there is no guarantee of the placement being completed as proposed. Investors should be aware of the potential differences between projected and actual results concerning the notes issuance. The company is not obligated to update forward-looking statements unless required by securities laws.



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