|Date Announced:||August 26, 2016|
|Date Closed:||September 16, 2016|
|Client Name:||Parkland Fuel Corporation|
On September 16, 2016, Parkland Fuel Corporation completed a private placement, by way of offering memorandum, of $300,000,000 aggregate principal amount of 5.75% senior notes due 2024.
The net proceeds of the offering will be used by Parkland to fund a portion of the costs to be incurred by Parkland in connection with its acquisition of the majority of the Canadian business and assets of CST Brands Inc. from Alimentation Couch-Tard Inc. Closing of the acquisition is expected to occur in early 2017.The offering was completed by a syndicate of underwriters led by TD Securities Inc. and National Bank Financial Inc. and including RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Canaccord Genuity Corp.
Parkland was represented by Bennett Jones LLP with a team led by John Piasta (Capital Markets) and including Murray Coleman (Banking), Greg Johnson (Tax), Elyse van Spronsen and Kristopher Simard (Capital Markets).