CALGARY,
AB, Aug. 16, 2024 /PRNewswire/ - Parkland
Corporation ("Parkland", "we" or "our") (TSX: PKI) announced today
the closing of its previously announced private offering (the
"offering") of US$500 million
aggregate principal amount of 6.625% senior unsecured notes due
2032 (the "notes").
Parkland will use the net proceeds of the offering for the
repayment of a portion of the outstanding drawings under its credit
facilities.
The notes were offered and sold only to persons reasonably
believed to be qualified institutional buyers pursuant to Rule 144A
under the U.S. Securities Act of 1933, as amended (the "Securities
Act") and offered and sold outside the
United States pursuant to Regulation S under the Securities
Act. The notes have not been registered under the Securities Act or
any state securities laws, and unless so registered, may not be
offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The notes were
offered and sold in Canada on a
private placement basis only to "accredited investors" pursuant to
certain prospectus exemptions.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any offer or sale of the notes in any state, or jurisdiction in
which such offer, solicitation, or sale would be unlawful.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements based on current expectations, including the use of
proceeds from the offering. By their nature, forward-looking
statements require us to make assumptions and are subject to
important known and unknown risks and uncertainties, which may
cause our actual results in future periods to differ materially
from those set forth in the forward-looking statements.
Any forward-looking statements are made as of the date hereof
and Parkland does not undertake any obligation, except as required
under applicable law, to publicly update or revise such statements
to reflect new information, subsequent or otherwise. The
forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
About Parkland Corporation
Parkland is an international fuel distributor, marketer, and
convenience retailer with operations in 26 countries across the
Americas. We serve over one million customers each day. Our retail
network meets the fuel and convenience needs of everyday consumers.
Our commercial operations provide businesses with industrial fuels
so that they can better serve their customers. In addition to
meeting our customers' needs for essential fuels, we provide a
range of choices to help them lower their environmental impact.
These include renewable fuels sourcing, manufacturing and blending,
carbon and renewables trading, solar power, and ultra-fast EV
charging. With approximately 4,000 retail and commercial locations
across Canada, the United States and the Caribbean region, we have developed supply,
distribution and trading capabilities to accelerate growth and
business performance.
Our strategy is focused on two pillars: our Customer Advantage
and our Supply Advantage. Through our Customer Advantage, we aim to
be the first choice of our customers, cultivating their loyalty
through proprietary brands, differentiated offers, our extensive
network, competitive pricing, reliable service, and our compelling
loyalty program. Our Supply Advantage is based on achieving the
lowest cost to serve among independent fuel marketers and
distributors in the hard-to-serve markets in which we operate,
through our well-positioned assets, significant scale, and deep
supply and logistics capabilities. Our business is underpinned by
our people and our values of safety, integrity, community and
respect, which are deeply embedded across our organization.
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SOURCE Parkland Corporation