Stantec Inc. announced the pricing of a private placement offering of $425 million aggregate principal amount of 4.374% senior unsecured notes. These notes are due on June 10, 2032, and were priced at par. The offering is expected to close on or about June 10, 2025, subject to customary closing conditions.
The company intends to use the net proceeds from this offering to repay existing indebtedness and for general corporate purposes. The notes will be direct senior unsecured obligations of Stantec, ranking equally with all existing and future senior unsecured indebtedness. They will also rank senior in right of payment to any future subordinated indebtedness.
DBRS Limited (Morningstar DBRS) has assigned a provisional rating of BBB with a stable trend to the notes. This financing move aims to strengthen Stantec's capital structure and provide financial flexibility for its ongoing operations and strategic initiatives.
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