1. Couche-Tard announced a $1.2 billion private debt offering. 2. The offering includes US dollar and Canadian dollar denominated senior unsecured notes. 3. Proceeds will be used to repay US commercial paper program indebtedness. 4. Notes rank pari passu with existing unsecured debt. 5. Notes expected to close on September 26 and 29, 2025.
The debt offering signifies confidence in managing finances and could provide liquidity. Historically, successful debt offerings boost investor confidence and market performance.
The announcement directly relates to Couche-Tard’s financial health, impacting investor sentiment and valuations.
The immediate closure of the debt offering may lead to positive market reactions. Market adjustments typically respond quickly to funding activities.
LAVAL, QC, Sept. 24, 2025 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX:ATD) announced today that it has priced a private debt offering of US dollar denominated senior unsecured notes with an aggregate principal amount of US$1.2 billion, consisting of two tranches of notes (the "US$ Notes"), and that it has priced a private debt offering of Canadian dollar denominated senior unsecured notes with an aggregate principal amount of Cdn.$500 million (the "Cdn.$ Notes" and, together with the US$ Notes, the "Notes"):
The offering of the US$ Notes is expected to close on or about September 29, 2025 and the offering of the Cdn.$ Notes is expected to close on or about September 26, 2025, in both cases, subject to the satisfaction of customary closing conditions. Couche-Tard intends to use the net proceeds from the sale of the Notes to repay indebtedness under its U.S. commercial paper program.
The Notes will be direct unsecured obligations of Couche-Tard and will rank pari passu with all other current and future senior unsecured and unsubordinated indebtedness of Couche-Tard and will be guaranteed on a senior unsecured basis by certain of Couche-Tard's wholly-owned subsidiaries who are guarantors under Couche-Tard's senior credit facilities.
The US$ Notes will be offered in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with the exemption from registration set forth in Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in accordance with the exemption from registration set forth in Regulation S under the Securities Act. The US$ Notes have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws and foreign securities laws.
The issuance and sale of the Notes have not been, and will not be, qualified under the securities laws of any province or territory of Canada and, accordingly, the offer and sale of the Notes in Canada will be made in the provinces of Canada on a basis which is exempt from the prospectus requirements of such securities laws, and the Cdn.$ Notes may not be offered or sold in the United States. The Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and mobility, operating in 29 countries and territories, with close to 17,300 stores, of which approximately 13,200 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as Hong Kong Special Administrative Region of People's Republic of China. Approximately 149,500 people are employed throughout its network.
Forward-Looking Statement
Certain statements set forth in this press release may constitute forward-looking statements within the meaning of securities legislation, including those with respect to the closing of the offering of the Notes and the use of proceeds therefrom. Positive or negative verbs such as "believe", "can", "shall", "intend", "expect", "estimate", "assume", and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated in or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, ongoing military conflicts, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, Couche-Tard's ability to consummate the offering of the Notes on the expected terms, the intended use of proceeds thereof and potential changes in market conditions and such other risks as described in detail from time to time in the reports filed by Couche-Tard with securities authorities in Canada. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/alimentation-couche-tard-inc-prices-private-offerings-of--us-and-cdn-denominated-senior-unsecured-notes-302566568.html
SOURCE Alimentation Couche-Tard Inc.