SOURCE: Parkland Fuel Corporation

Parkland Fuel Corporation

November 13, 2014 19:21 ET

Parkland Fuel Corporation Announces Senior Notes Offering

RED DEER, AB--(Marketwired - November 13, 2014) -


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 6.0% senior unsecured notes due 2022 (the "Notes").

On September 17, 2014, Parkland announced that it entered into a definitive agreement to acquire the assets of Pioneer Energy (the "Acquisition"). The net proceeds of the Notes will be used by Parkland to fund a portion of the Acquisition's purchase price. In the unlikely event that the Acquisition is not completed, the net proceeds of the Notes will be used by Parkland to repay amounts drawn on its credit facilities and for general corporate purposes including, without limitation, to fund its working capital requirements and potential future acquisitions. Subject to the satisfaction of customary closing conditions, the offering is expected to close on November 21, 2014.

The offering is being underwritten by RBC Capital Markets and Scotiabank as joint bookrunners, and Canaccord Genuity, CIBC World Markets and National Bank Financial 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, households 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 fuel and petroleum products, 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.

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Forward Looking Information
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

  • For investor and media inquiries please contact:
    Tom McMillan
    Director of Corporate Communications and Investor Relations
    Email contact