Parkland Corporation Seeks Consent for Senior Notes Amid Sunoco Acquisition
Parkland Corporation Initiates Consent Solicitations for Senior Notes
Overview of the Situation
On May 29, 2025, Parkland Corporation, listed on the Toronto Stock Exchange as PKI, announced its initiation of consent solicitations concerning its senior notes as part of the ongoing acquisition of Sunoco LP. This announcement followed a previous declaration on May 5, 2025, regarding the acquisition of Sunoco's outstanding common shares. The company's move is primarily aimed at modifying the terms surrounding certain series of its outstanding obligations denominated in both U.S. and Canadian dollars.
Details of the Consent Solicitation
Parkland is seeking to amend the existing contracts that govern specific series of senior obligations, which includes a total outstanding principal amount of approximately $2.9 billion across various maturities. These modifications require approval from the holders of these obligations, which will enable Parkland to navigate potential
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