Couche-Tard Prices US$1.2 Billion and C$500 Million Senior Notes; New Debt to Rank Pari Passu with Existing Obligations

07:44 AM EDT, 09/25/2025 (MT Newswires) -- Alimentation Couche-Tard (ANCTF) overnight Wednesday said it priced a private debt offering of US dollar denominated senior unsecured notes with an aggregate principal amount of US$1.2 billion, and that it priced a private debt offering of Canadian dollar denominated senior unsecured notes with an aggregate principal amount of C$500 million.

The US dollar denominated senior unsecured notes consists of two tranches of notes, US$700 million aggregate principal amount of 4.148% senior unsecured notes due 2028 and US$500 million aggregate principal amount of 5.077% senior unsecured notes due 2035.

The private debt offering of Canadian dollar denominated senior unsecured notes was of C$500 million aggregate principal amount of 3.864% senior unsecured notes due 2032.

The offering of the US dollar notes is expected to close on or about Sept. 29 and the offering of the Canadian dollar notes is expected to close on or about Sept. 26, both subject to the satisfaction of customary closing conditions.

Couche-Tard plans to use the net proceeds from the sale of the notes to repay indebtedness under its U.S. commercial paper program.

The company said the notes will be its direct unsecured obligations and will rank "pari passu" with all of its other current and future senior unsecured and unsubordinated indebtedness.

The notes will also be guaranteed on a senior unsecured basis by certain of Couche-Tard's wholly-owned subsidiaries who are guarantors under its senior credit facilities.

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