Parkland Announces Closing of its Senior Unsecured Notes Offering

CALGARY, AB, 23 November 2021 / PRNewswire / – Parkland Corporation (“Parkland”) (TSX: PKI) today announced the closing of its previously announced private offering (the “Offer”) of $ 800 million 4.625% aggregate principal amount of Senior Unsecured Notes due 2030 (the “Notes”).

Parkland will use the net proceeds of the Offering to redeem all of the $ 300 million total principal of its 6.500% Senior Notes with a final maturity date of January 21, 2027 (the “6.5% Senior Bonds”) and to repay draws under its revolving bank credit facility (the “Revolving Credit Facility”), the balance to be used for general corporate purposes. . Amounts repaid under the revolving facility may be reused, subject to the terms of the revolving facility, for general business purposes, including acquisitions and capital expenditures.

The Notes have been offered and sold only to persons reasonably suspected of being Qualified Institutional Purchasers under Rule 144A of the US Securities Act of 1933, as amended (the “Securities Act”) and offered and sold in outside United States in accordance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state securities law and, unless so registered, may not be offered or sold in United States except pursuant to an exemption or in connection with a transaction not subject to the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these Notes, except as required by law, and there will be no offer or sale. tickets in a state or jurisdiction in which such offering, solicitation or sale would be illegal.

Forward-looking statements

Certain statements contained in this press release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this press release, the words “may”, “be”, “will” and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements regarding the use of the proceeds of the offering, the repayment of the 6.5% Senior Notes, the repayment of amounts overdue under the Revolving Facility and the re-draw. of these amounts.

No assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this press release should not be improperly relied upon. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. See the risks and uncertainties described in “Forward-looking information” and “Risk factors” included in Parkland’s annual information form dated March 5, 2021 and in “Forward-looking Information” and “Risk Factors” in management’s discussion and analysis for the quarter ended September 30, 2021, dated November 2, 2021, which are filed on SEDAR and available on Parkland’s website at www.parkland.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

About Parkland Corporation

Parkland is a leading operator of convenience stores and an independent supplier and distributor of fuels and petroleum products. Parkland serves its customers through Canada, United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland is optimizing its fuel supply across all three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland offers reliable, locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates shareholder value by focusing on its proven strategy of organic growth, realizing a sourcing advantage and prudent acquisition and successful integration. At the heart of our strategy are our people, as well as our values ​​of safety, integrity, community and respect, which are adopted throughout our organization.

SOURCE Parkland Corporation

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