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North American Construction to Sell Additional $125 Million of 7.75% Senior Notes Due 2030

BY MT Newswires | CORPORATE | 10/08/25 06:46 AM EDT

06:46 AM EDT, 10/08/2025 (MT Newswires) -- North American Construction Group (NOA) overnight Tuesday said it entered into an underwriting agreement to sell an additional $125 million of its 7.75% senior unsecured notes due May 1, 2030, representing an additional issuance to the $225 million of 7.75% senior unsecured notes issued May 1 (initial notes).

The company expects $350 million of initial notes and notes outstanding following the closing of the offering. The notes will be issued at a price of 103% of their face value, with a yield to worst of 6.778%.

The notes will have identical terms and be fungible with and be part of the same series as the initial notes. Proceeds of the offering, expected to close on or about October 22, will be used to repay indebtedness under its existing credit agreement, and for general corporate needs.

Shares of the company closed down about 1% to $20.35 Tuesday on the Toronto Stock Exchange.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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