Parkland Corporation Completes Supplemental Notes Agreements Following Successful Consent Solicitation
On June 22, 2025, Parkland Corporation, a prominent fuel marketing and distribution leader, made a significant announcement regarding its financial maneuvering. The company revealed that it had successfully completed a series of supplemental agreements tied to its senior notes in the wake of earlier consent solicitations. This strategic move comes as part of a broader effort surrounding Parkland's definitive agreement with Sunoco LP, which was disclosed on May 5, 2025. The essence of this financial adjustment lies in the modification of existing issuance contracts governing various senior notes issued by Parkland.
These financial instruments include a range of bonds such as the senior notes with varying maturity dates and fixed percentage rates, which are now reinforced under the new supplemental agreements. Specifically, these amendments were made to eliminate a potential obligation under the existing issuance that would have necessitated a "Change of Control Offer" as a result of the transaction with Sunoco. Furthermore, the definition of "Change of Control" within the issuance contracts was also altered to acknowledge that Sunoco and its subsidiaries are now considered "Qualified Owners" of Parkland.
The supplemental agreements came into effect immediately upon execution and are binding for all noteholders as defined in the consent solicitation statement issued on May 27, 2025. This includes those who did not provide their consent by the deadline. It is notable that these amendments will become void should the transaction not be consummated or should the relevant consent fees not be paid to the appropriate trustee or tabulation agent.
This announcement is purely informational, reiterating that it does not constitute a sales offer or a request to purchase any of the bonds or other securities. Investors and stakeholders are advised to reference the previous press releases dated May 27, 2025, and June 10, 2025, for additional context on the consent solicitations. Future projections included in this release contain forward-looking statements regarding the transaction and are subject to known and unknown risks, uncertainties, and other factors that could lead to actual results deviating materially from the forecasts made.
Since its inception, Parkland has grown into an international fuel distributor and leading convenience store operator, recognized for secure and reliable operations across 26 countries. The company effectively bridges consumer needs with industrial fuel solutions, ensuring businesses can serve their clients more efficiently. Parkland is also committed to sustainability, providing renewable fuel options, ultrafast EV charging solutions, carbon credit options, and solar energy initiatives. With approximately 4,000 retail and commercial locations in Canada, the United States, and the Caribbean, Parkland has developed comprehensive supply, distribution, and trading capabilities to drive growth and business performance.
In conclusion, Parkland Corporation's strategic moves exemplify its adaptive response to market conditions and commitment to enhancing its financial frameworks, ensuring it remains a major player in the fuel distribution market. Investors and clients interested in further details can contact Parkland’s investor relations or media teams through the provided contact channels. As Parkland continues to expand its operations and outreach, the focus remains on innovation, sustainability, and meeting the evolving needs of consumers and businesses alike.
These financial instruments include a range of bonds such as the senior notes with varying maturity dates and fixed percentage rates, which are now reinforced under the new supplemental agreements. Specifically, these amendments were made to eliminate a potential obligation under the existing issuance that would have necessitated a "Change of Control Offer" as a result of the transaction with Sunoco. Furthermore, the definition of "Change of Control" within the issuance contracts was also altered to acknowledge that Sunoco and its subsidiaries are now considered "Qualified Owners" of Parkland.
The supplemental agreements came into effect immediately upon execution and are binding for all noteholders as defined in the consent solicitation statement issued on May 27, 2025. This includes those who did not provide their consent by the deadline. It is notable that these amendments will become void should the transaction not be consummated or should the relevant consent fees not be paid to the appropriate trustee or tabulation agent.
This announcement is purely informational, reiterating that it does not constitute a sales offer or a request to purchase any of the bonds or other securities. Investors and stakeholders are advised to reference the previous press releases dated May 27, 2025, and June 10, 2025, for additional context on the consent solicitations. Future projections included in this release contain forward-looking statements regarding the transaction and are subject to known and unknown risks, uncertainties, and other factors that could lead to actual results deviating materially from the forecasts made.
Since its inception, Parkland has grown into an international fuel distributor and leading convenience store operator, recognized for secure and reliable operations across 26 countries. The company effectively bridges consumer needs with industrial fuel solutions, ensuring businesses can serve their clients more efficiently. Parkland is also committed to sustainability, providing renewable fuel options, ultrafast EV charging solutions, carbon credit options, and solar energy initiatives. With approximately 4,000 retail and commercial locations in Canada, the United States, and the Caribbean, Parkland has developed comprehensive supply, distribution, and trading capabilities to drive growth and business performance.
In conclusion, Parkland Corporation's strategic moves exemplify its adaptive response to market conditions and commitment to enhancing its financial frameworks, ensuring it remains a major player in the fuel distribution market. Investors and clients interested in further details can contact Parkland’s investor relations or media teams through the provided contact channels. As Parkland continues to expand its operations and outreach, the focus remains on innovation, sustainability, and meeting the evolving needs of consumers and businesses alike.
Topics Financial Services & Investing）
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