trending Market Intelligence /marketintelligence/en/news-insights/trending/HQcmy5kd1xVvI65k4tvzNA2 content esgSubNav
In This List

SNC-Lavalin offering C$300M debentures in private placement

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


SNC-Lavalin offering C$300M debentures in private placement

SNC-Lavalin Group Inc. priced a private offering of C$300 million aggregate principle amount of 2.689% series 1 unsecured debentures, due Nov. 24, 2020.

The offering is expected to close on or around Nov. 24, subject to customary closing conditions, according to a news release. The interest is payable semiannually at a fixed annual rate of 2.689%.

Proceeds from the offering will be used to repay certain debt outstanding under its existing main credit agreement and for general corporate purposes.

The debentures are being offered in Canada on a private-placement basis through a syndicate of agents led by CIBC World Markets, BMO Capital Markets and National Bank Financial Markets as joint bookrunners and co-lead private placement agents.

The debentures are direct unsecured obligations of SNC-Lavalin and within 60 days of the closing of the offering will become guaranteed by the same subsidiaries that guarantee the company's obligations under its existing main credit agreement.

DBRS Ltd. rated the debentures BBB on a provisional basis, with a stable trend, and S&P Global Ratings rated the notes BBB, with a stable outlook.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.