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Couche-Tard to launch private offering of senior notes

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Couche-Tard to launch private offering of senior notes

Canadian convenience store operator Alimentation Couche-Tard Inc. plans to offer one or more series of senior notes, including a series of floating-rate notes, in a private offering to qualified institutional buyers, the company said Dec. 7.

The retailer said the notes will be direct unsecured obligations of Couche-Tard and will rank pari passu with all other outstanding unsecured and unsubordinated indebtedness of the company.

Couche-Tard intends to use the net proceeds to repay certain amounts outstanding under its senior credit facilities, whose guarantors include the company's wholly owned subsidiaries.