Aecon completes $150 million public offering of convertible debentures
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TORONTO, Nov. 27, 2013 /CNW/ - Aecon Group Inc. ("Aecon" or the "Company")
(TSX: ARE) today announced that it has completed its previously announced
public offering of $150 million aggregate principal amount of 5.50%
convertible unsecured subordinated debentures due December 31, 2018 (the
The offering of Debentures was completed on a bought deal basis through a
syndicate of underwriters led by TD Securities Inc. and GMP Securities L.P.
Aecon has also granted the underwriters an over-allotment option to purchase
up to an additional $22.5 million aggregate principal amount of Debentures,
exercisable in whole or in part for a period of 30 days following closing of
the offering, to cover over-allotments, if any.
As previously announced, Aecon intends to use the net proceeds of the offering
to refinance at maturity Aecon's 7.0% convertible unsecured subordinated
debentures due September 30, 2014 and, in the interim, for general corporate
The securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of such Act. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy the securities in any
Aecon Group Inc. is a Canadian leader in construction and infrastructure
development providing integrated turnkey services to private and public sector
clients. Aecon is pleased to be consistently recognized as one of the Best
Employers in Canada.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release includes certain forward-looking statements with respect to
the Company and the offering of Debentures which are necessarily based on a
number of estimates and assumptions that, while considered reasonable by the
Company, are inherently subject to significant risks, uncertainties, and
contingencies. These "forward-looking" statements are based on currently
available information but are subject to risks and uncertainties. In addition
to general global events outside Aecon's control, there are factors which
could cause actual results, performance or achievements to vary from those
expressed or inferred herein including risks associated with the ability to
satisfy regulatory and commercial closing conditions of the offering, the
uncertainty associated with accessing capital markets and the risks related to
Aecon's business. Risk factors are discussed in greater detail in the section
on "Risk Factors" in the Company's Annual Information Form filed on March 27,
2013 and available at www.sedar.com. Forward-looking statements may include,
without limitation, statements regarding the over-allotment option and
expected use of proceeds of the offering. Forward looking statements, may in
some cases be identified by words such as "will," "plans," "believes,"
"expects," "anticipates," "scheduled," "estimates," "projects," "intends,"
"should" or the negative of these terms, or similar expressions. Except as
required by applicable securities laws, forward-looking statements speak only
as of the date on which they are made and Aecon undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
SOURCE Aecon Group Inc.
Vince Borg Senior Vice President, Corporate Affairs Aecon Group Inc.
416-297-2615 email@example.com www.aecon.com
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CO: Aecon Group Inc.
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-0- Nov/27/2013 13:34 GMT
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