Parkland Fuel Corporation

TSX : PKI


Parkland Fuel Corporation

May 23, 2014 17:30 ET

Parkland Fuel Corporation Announces Senior Notes Offering

RED DEER, ALBERTA--(Marketwired - May 23, 2014) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION ON TO UNITED STATES NEWS WIRE SERVICES

Parkland Fuel Corporation ("Parkland" or the "Corporation") (TSX:PKI), North America's fastest growing distributor and marketer of fuels and lubricants, today announced that it has entered into an underwriting agreement to sell, pursuant to a private placement, $200 million aggregate principal amount of 5.5% senior unsecured notes due 2021 (the "Notes").

Parkland intends to use the net proceeds from the offering to repay amounts drawn on its existing syndicated credit facility and for general corporate purposes. Subject to the satisfaction of customary closing conditions, the offering is expected to close on May 29, 2014.

The offering is being underwritten by RBC Capital Markets and Scotiabank as joint bookrunners, and National Bank Financial and TD Securities as co-managers.

The Notes are being conditionally offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions. The Notes have not been registered under the U.S. Securities Act, or any state securities laws, and are being offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act and applicable state securities laws and outside the United States in offshore transactions in reliance of Regulation S under the U.S. Securities Act.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

About Parkland Fuel Corporation

Parkland Fuel Corporation is North America's fastest growing independent marketer of fuel and petroleum products. We deliver gasoline, diesel, propane, lubricants, heating oil and other high quality petroleum products to motorists, businesses, consumers and wholesale customers in Canada and the United States. Our mission is to be the partner of choice for our customers and suppliers, and we do this by building lasting relationships through outstanding service, reliability, safety, and professionalism. We are unique in our ability to provide customers with dependable access to supply, utilizing a portfolio of supply relationships, storage infrastructure, and third party rail and highway carriers to rapidly respond to supply disruptions in order to protect our customers' operations.

To sign up for Parkland's investor information services, please go to http://bit.ly/PKI-Info or visit www.parkland.ca.

Certain information included herein is forward-looking. Forward-looking statements include, without limitation, statements regarding the size and terms of the offering, the use of proceeds of the offering, and the timing and completion of the offering.

Many of these statements can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "projected", "anticipates", "estimates", "continues", and similar expressions and statements that are not related to historical facts constitute forward-looking information or statements under securities laws. Parkland believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Parkland's annual information form and other continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Parkland's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.

Such factors include, but are not limited to, that the closing conditions of the offering will be met on the timelines planned and on the terms expressed herein. Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.

Contact Information

  • Parkland Fuel Corporation
    Tom McMillan
    Director, Corporate Communications
    1-800-662-7177 ext. 2533
    www.parkland.ca