CAMBRIDGE, ON, Dec. 29, 2020
/CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS"
or the "Company") today announces the closing of its private
offering of US$350 million aggregate
principal amount of Senior Notes due 2028 (the "Notes"). The
Notes were issued at par, bear interest at a rate of 4.125% per
annum and mature on December 15,
2028. 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") on or about
January 13, 2021, and to use the
remainder of the net proceeds for general corporate purposes.
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. Forward-looking statements relate to, among other
things, the use of proceeds from the offering. The risks and
uncertainties that may affect forward-looking statements include
the risks detailed from time to time in ATS' filings with 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.