#Canada #Couche-Tard #Laval #Debt Offering #Euro Notes

Alimentation Couche-Tard Prices €750 Million Senior Unsecured Notes

In a significant move to manage its financial health, Alimentation Couche-Tard Inc. revealed today that it has priced a private offering of Euro-denominated senior unsecured notes. This issuance totals €750 million and carries a competitive coupon rate of 3.901% per annum. The notes are set to mature in 2033, showcasing Couche-Tard's commitment to long-term financial stability.

The offering is expected to close around April 21, 2026, contingent upon standard closing conditions being met. The funds raised will primarily be directed toward the repayment of existing debts. Specifically, Couche-Tard aims to refinance its senior unsecured notes that are denominated in Euros and due on May 6, 2026. Furthermore, part of the proceeds will be allocated to cover certain fees and expenses related to this refinancing operation.

These new senior unsecured notes will be direct obligations of Couche-Tard and will hold equal priority with all other current and future senior unsecured debts of the company. Additionally, certain fully-owned subsidiaries of Couche-Tard will provide guarantees on these notes, ensuring further creditor security.

The offering intends to comply with U.S. regulations, being made exclusively to individuals deemed to be qualified institutional buyers, thereby utilizing the exemption from registration under Rule 144A of the U.S. Securities Act. Outside of the United States, the notes will also be offered to non-U.S. persons in compliance with Regulation S of the Securities Act. It is essential to note that these notes have not been registered under the Securities Act, nor will they be, meaning they cannot be sold in the United States without proper registration or an exemption.

In Canada, the offering aligns with the regulations set by various provincial securities laws, allowing the issuance to be made under exempt conditions. Similar practices are applied for markets in the European Economic Area (EEA) and the United Kingdom, ensuring that the notes are not available to retail investors thus safeguarding compliance with local investment regulations.

Company Overview

Alimentation Couche-Tard is a prominent player in the global convenience store market, operating close to 17,300 locations across 27 countries. Known for its popular Couche-Tard and Circle K brands, the company stands as one of the largest independent operators in the convenience sector in North America. It also holds significant positions in various European and Asian markets, including Canada, Scandinavia, and parts of Asia, employing approximately 149,500 individuals in its operations.

The series of strategic financial maneuvers, including this latest notes offering, reflect Couche-Tard's intent on maintaining a robust balance sheet while navigating the complexities of the retail fuel and convenience store landscape.

Forward-Looking Statements

It is prudent to consider that the statements made in relation to the offering are forward-looking and inherently come with risks, uncertainties, and assumptions that might affect actual outcomes significantly. Couche-Tard has stressed that outcomes may vary based on several inherent factors including market conditions, competitive dynamics, and regulatory landscapes.

As they continue to solidify their market position, investors and stakeholders will be closely monitoring Couche-Tard’s strategic movements, particularly in terms of financial management and capital structure adjustments. This latest debt offering marks another step in their ongoing journey to enhance operational efficiency and fiscal prudence.