ATS Announces Pricing Of Upsized Offering Of C$400 Mln Senior Unsecured Notes Due 2032

(RTTNews) - ATS Corp. (ATS) announced on Thursday that it has priced its increased offering of senior unsecured notes at C$400 million, up from the original C$300 million.

These notes, which are set to mature in 2032, will carry an interest rate of 6.50%, with interest payments made in cash on a semi-annual basis. They will be issued at a price of C$1,000 for each C$1,000 of principal.

The company intends to utilize the net proceeds to settle outstanding balances on its revolving credit line associated with its senior syndicated credit facility.

This offering is classified as a private placement in Canada and is being marketed in the United States to qualified institutional buyers in accordance with Rule 144A.

The anticipated closing date is around August 21, 2024, pending standard conditions.