Shawcor Announces Closing of C$150 Million Unsecured Note Financing
10 Dezember 2021 - 2:51PM
Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today
announced that it has successfully closed its previously announced
private offering (the “Offering”) of C$150 million aggregate
principal amount of 9.00% senior unsecured notes due 2026 (the
“Notes”). As previously stated, the Company will utilize net
proceeds of the Offering to repay amounts outstanding under its
existing syndicated credit facility.
The Offering was underwritten by a syndicate of
underwriters, led by National Bank Financial and TD Securities.
The Notes were offered for sale in Canada to
accredited investors on a private placement basis, in accordance
with Canadian securities laws. The Notes were not registered under
the U.S. Securities Act, or any state securities laws, and were
offered and sold in the United States to qualified institutional
buyers only, pursuant to Rule 144A of the U.S. Securities Act, and
outside of the United States in accordance with Rule 903 of
Regulation S under the U.S. Securities Act.
About Shawcor
Shawcor Ltd. is a growth-oriented, global
material sciences company serving the Infrastructure, Energy, and
Transportation markets. The Company operates through a network of
fixed and mobile manufacturing and service facilities. Its three
business segments, Composite Systems, Automotive & Industrial
and Pipeline & Pipe Services enable responsible renewal and
enhancement of critical infrastructure while lowering risk and
environmental impact.
For further information, please contact:
Meghan MacEachernExternal Communications & ESG,
DirectorTelephone:
437.341.1848Email: meghan.maceachern@shawcor.com shawcor.com
Forward Looking Information
This news release contains forward-looking
information within the meaning of applicable securities laws. Words
such as "may", "will", "should", "anticipate", "plan", "expect",
"believe", "predict", "estimate" or similar terminology are used to
identify forward-looking information. This forward-looking
information is based on assumptions, estimates and analysis made in
the light of the Company's experience and its perception of trends,
current conditions and expected developments, as well as other
factors that are believed by the Company to be reasonable and
relevant in the circumstances. Forward-looking information involves
known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to be materially
different from those predicted, expressed or implied by the
forward-looking information. The forward-looking information is
provided as of the date of this news release and the Company does
not assume any obligation to update or revise the forward-looking
information to reflect new events or circumstances, except as
required by law.
Source: Shawcor Ltd.
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