Mullen Group Ltd. Closes CAD$400 Million Private Placement

Mullen Group Ltd. has closed a private placement offering of CAD$400.0 million in senior secured notes due July 10, 2037. The Notes consist of US$50.0 million with a yield of 6.91% per annum and CAD$325.0 million with a yield of 6.04% per annum. They are guaranteed by Mullen Group’s subsidiaries and secured by a first ranking charge over all present and after-acquired property of the Corporation and each Guarantor. The proceeds will be used to prepay existing debt and for general corporate purposes. The Notes have been offered in a private placement to institutional accredited investors and are not registered under the Securities Act or Canadian securities laws.

Mullen Group Ltd. is a public company in the transportation and logistics industries, with a large portfolio of logistics companies providing various services across North America. The company is listed on the Toronto Stock Exchange under the symbol “MTL”. The corporate office provides support to independent businesses within the network. Forward-looking statements in this news release reflect the company’s beliefs and assumptions, based on current information available. Risks associated with the overall economy and the oil and natural gas business are factors to consider.

Read more at GlobeNewswire: Mullen Group Ltd. Announces Closing of Private Placement