Alimentation Couche-Tard closes $1 billion senior unsecured notes offering
/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES AND NOT FOR DISSEMINATION IN THE
LAVAL, QC, Nov. 1, 2012 /CNW Telbec/ - Alimentation Couche-Tard Inc.
("Couche-Tard") (TSX: ATD.A ATD.B) announced today that it completed the
closing of its previously-announced public offering of (i)$300 million
principal amount of 2.861% Series 1 senior unsecured notes due November 1,
2017 (the "Series 1 Notes"); (ii)$450 million principal amount of 3.319%
Series 2 senior unsecured notes due November 1, 2019 (the "Series 2 Notes");
and (iii)$250 million principal amount of 3.899% Series 3 senior unsecured
notes due November 1, 2022 (the "Series 3 Notes" and, together with the Series
1 Notes and the Series 2 Notes, collectively, the "Notes"). The Notes were
issued and sold today through a syndicate of agents composed of National Bank
Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., UBS
Securities Canada Inc., Desjardins Securities Inc., and Barclays Capital
Canada Inc., as co-lead agents.
The Notes are rated BBB- by Standard & Poor's, a division of the McGraw-Hill
Companies, Inc. and Baa3 by Moody's Investors Service, Inc.
Couche-Tard intends to use the net proceeds of the offering of approximately
$995 million to repay indebtedness outstanding under its credit facility used
to fund the acquisition of Statoil Fuel & Retail AS.
This news release does not constitute an offer to sell or the solicitation of
an offer to buy the Notes in the United States. The Notes have not been and
will not be registered under the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act"), and may not be offered or sold in the United States
unless registered under the U.S. Securities Act or pursuant to an available
exemption from the registration requirements of the U.S. Securities Act.
About Alimentation Couche-Tard Inc.
Alimentation Couche-Tard Inc. is the leader in the Canadian convenience store
industry. In North America, Couche-Tard is the largest independent convenience
store operator (whether integrated with a petroleum company or not) in terms
of number of company-operated stores. In Europe, Couche-Tard is a leader in
convenience store and road transportation fuel in Scandinavian countries and
in the Baltic States and it has a growing presence in Poland.
As of July 22, 2012, Couche-Tard's network comprised 6,109 convenience stores
throughout North America, including 4,534 stores with road transportation fuel
dispensing. At the same date, Couche-Tard had agreements for the supply of
motor fuel to 357 sites operated by independent operators. Couche-Tard's
North-American network consists of 13 business units, including nine in the
United States covering 40 states and the District of Columbia and four in
Canada covering all ten provinces. More than 60,000 people are employed
throughout Couche-Tard's network and at its service offices in North America.
Through its acquisition of Statoil Fuel & Retail ASA, Couche-Tard also
operates a broad retail network across Scandinavia (Norway, Sweden and
Denmark), Poland, the Baltics (Estonia, Latvia and Lithuania), and Russia with
2,307 stores as at June 30, 2012, the majority of which offer road
transportation fuel and convenience products while the others are unmanned
automated service-stations (road transportation fuel only). Couche-Tard also
offers other products, including stationary energy, marine fuel, aviation
fuel, lubricants and chemicals. It operates 12 key fuel terminals and 38 fuel
depots in eight countries as well as approximately 400 road tankers. Including
employees at Statoil branded franchise stations, about 18,500 people work in
Couche-Tard's retail network, terminals and service offices across Europe.
In addition, under licensing agreements, about 4,000 stores are operated under
the Circle K banner in nine other countries and territories worldwide (China,
Guam, Hong Kong, Indonesia, Japan, Macau, Mexico, Vietnam and the United Arab
For more information on Alimentation Couche-Tard Inc., please visit:
The statements set forth in this news release, which describe Couche-Tard's
objectives, projections, estimates, expectations or forecasts, may constitute
forward-looking statements within the meaning of securities legislation.
Positive or negative verbs such as "will", "plan", "evaluate", "estimate",
"believe", "expect" 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 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, fluctuations in margins on motor fuel sales,
competition in the convenience store and retail motor fuel industries,
exchange rate variations, and such other risks as described in detail from
time to time in documents filed by Couche-Tard with securities regulatory
authorities in Canada. Unless otherwise required by applicable securities
laws, Couche-Tard disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise. The forward-looking information in this news release is
based on information available as of the date of the release.
Raymond Paré, Vice-President and Chief Financial Officer Tel: (450) 662-6632
ext. 4607 firstname.lastname@example.org
SOURCE: ALIMENTATION COUCHE-TARD INC.
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