CAMBRIDGE, ON, Dec. 14, 2020 /CNW/ - ATS Automation Tooling
Systems Inc. (TSX: ATA) ("ATS" or the "Company") today
announces that it intends to offer US$300
million aggregate principal amount of Senior Notes due 2028
(the "Notes"). The interest rate and other terms of the Notes
will be determined based on prevailing market conditions. ATS
intends to use the net proceeds from the offering of the Notes to
fund the redemption of its outstanding 6.500% Senior Notes due 2023
(the "Existing Notes"), and to use the remainder of the net
proceeds for general corporate purposes.
Pursuant to the terms of the indenture governing the Existing
Notes, ATS has issued a conditional notice of redemption to redeem
the outstanding Existing Notes, which redemption will be
conditional upon the successful completion of the offering of the
Notes.
The Notes will be offered and sold in the United States only to persons reasonably
believed to be qualified institutional buyers in accordance with
Rule 144A under the United States Securities Act of 1933, as
amended (the "Securities Act"), and outside the United States in reliance on Regulation S
under the Securities Act. The Notes may be offered and sold
in certain provinces of Canada on
a private placement basis pursuant to certain prospectus
exemptions.
The offer and sale of the Notes will not be registered under the
Securities Act and the Notes may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
laws. This news release shall not constitute an offer to sell
or the solicitation of an offer to buy the Notes, nor shall there
be any offer or sale of the Notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About ATS
ATS is an industry-leading automation
solutions provider to many of the world's most successful
companies. ATS uses its extensive knowledge base and global
capabilities in custom automation, repeat automation, automation
products and value-added services, including pre-automation and
after-sales services, to address the sophisticated manufacturing
automation systems and service needs of multinational customers in
markets such as life sciences, chemicals, consumer products,
electronics, food, beverage, transportation, energy, and oil and
gas. Founded in 1978, ATS employs approximately 4,200 people at 20
manufacturing facilities and over 50 offices in North America, Europe, Southeast
Asia and China. The
Company's shares are traded on the Toronto Stock Exchange under the
symbol ATA.
Note to Readers: Forward-Looking Statements:
This
news release contains certain statements that constitute
forward-looking information within the meaning of applicable
securities laws ("forward-looking statements"). Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of ATS, or developments in ATS'
business or in its industry, to differ materially from the
anticipated results, performance, achievements or developments
expressed or implied by such forward-looking statements.
Forward-looking statements include all disclosure regarding
possible events, conditions or results of operations that are based
on assumptions about future economic conditions and courses of
action. Forward-looking statements may also include, without
limitation, any statement relating to future events, conditions or
circumstances. Accordingly, you should not place undue reliance on
the forward-looking statements or information contained herein
which speak only as of the date they are made. Forward-looking
statements relate to, among other things, ATS' intention to offer
the Notes, and the use of proceeds from the offering of the Notes
to fund the redemption of the Existing Notes. The risks and
uncertainties that may affect forward-looking statements include
the risk that the Note offering is not concluded or the Company
chooses not the proceed due to market receptivity, broader market
conditions, or for other reasons; and other risks detailed from
time to time in ATS' filings with the Canadian provincial
securities regulators. Forward-looking statements are based on
management's current plans, estimates, projections, beliefs and
opinions, and other than as required by applicable securities laws,
ATS does not undertake any obligation to update forward-looking
statements should assumptions related to these plans, estimates,
projections, beliefs and opinions change.
SOURCE ATS Automation Tooling Systems Inc.