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AutoCanada to Raise C$300 Million in Private Placement of Senior Unsecured Notes

By Adriano Marchese

 

AutoCanada Inc. said Thursday that it plans to offer 300 million Canadian dollars, the equivalent of US$239.7 million, worth of senior unsecured notes on a private placement basis.

The Canadian automobile dealership company said the notes will be seven-year senior unsecured notes, and will be offered and sold on a private placement basis to accredited investors and qualified institutional buyers in Canada and the U.S.

The company will use the new funds to redeem its outstanding C$250 million 8.75% senior notes due in 2025.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

January 20, 2022 09:44 ET (14:44 GMT)

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