Stantec Announces the Closing of $250 Million Senior Unsecured Notes Offering
June 27 2023 - 11:01AM
TSX, NYSE:STN
Stantec, a global leader in sustainable design and engineering,
today announced the closing of its previously announced private
placement offering (the "Offering") of $250 million aggregate
principal amount of senior unsecured notes due June 27, 2030 (the
"Notes"). The Notes bear an interest rate of 5.393% per annum and
were priced at par.
Stantec intends to use the net proceeds of the Offering to repay
existing indebtedness and for general corporate purposes.
The notes are direct senior unsecured obligations of Stantec and
rank pari passu with all of Stantec's existing and future senior
unsecured indebtedness and senior in right of payment to any future
subordinated indebtedness of Stantec. The Notes have been assigned
a rating of BBB, with a stable trend, by DBRS Limited (DBRS
Morningstar).
The Notes were not qualified for sale to the public
under applicable securities laws in Canada and, accordingly, any
offer and sale of the Notes in Canada was made on a basis which is
exempt from the prospectus requirements of such securities laws.
The Notes have not been and will not be registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities
Act”), or the securities laws of any other jurisdiction, and may
not be offered or sold in the United States or to, or for the
account or benefit of, U.S. persons (as such term is defined in
Regulation S under the U.S. Securities Act). This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy, any security, nor shall there be any offer to sell or
a solicitation of an offer to buy the Notes in any jurisdiction
where it is unlawful to do so.
About Stantec
Communities are fundamental. Whether around the corner or across
the globe, they provide a foundation, a sense of place and of
belonging. That's why at Stantec, we always design with
community in mind.
We care about the communities we serve—because they're our
communities too. This allows us to assess what's needed and connect
our expertise, to appreciate nuances and envision what's never been
considered, to bring together diverse perspectives so we can
collaborate toward a shared success.
We're designers, engineers, scientists, and project managers,
innovating together at the intersection of community, creativity,
and client relationships. Balancing these priorities results in
projects that advance the quality of life in communities across the
globe.
Stantec trades on the TSX and the NYSE under the symbol STN.
Visit us at stantec.com or find us on social media.
For further information:
Investor ContactJess NieukerkStantec Investor
RelationsPh: (403) 569-5389jess.nieukerk@stantec.com
To subscribe to Stantec’s email news alerts, please fill out the
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page of the Investors section at Stantec.com.
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