On January 22, 2020, Alimentation Couche-Tard, the Canadian leader in the convenience store industry, announced that it has priced US$750 M principal amount of 2.950% Senior Unsecured Notes due 2030 and US$750 M principal amount of 3.800% Senior Unsecured Notes due 2050 in a private offering that is exempt from the registration requirements of the U.S. Securities Act of 1933, as amended. The Notes offering closed on January 27, 2020. The Notes are direct unsecured obligations of Couche-Tard and will rank on an equal footing with all other outstanding 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.
Couche-Tard expects to use the net proceeds from the sale of the Notes to repay certain amounts outstanding under its senior credit facilities and for general corporate purposes.
In addition to being the leader in the Canadian convenience store industry, Couche-Tard is the largest independent convenience store operator in terms of the number of company-operated stores in the United States. In Europe, it is a leader in convenience store and road transportation fuel retail in the Scandinavian countries, in the Baltic countries, as well as in Ireland, and has an important presence in Poland. Couche-Tard has a global network of more than 14,800 stores in more than 25 countries.
A Fasken team composed of Jean-Pierre Chamberland, Sébastien Bellefleur and Claude Jodoin acted as Canadian counsel to the placing agents in connection with this private offering.
