Montreal advised Metro Inc. on a completed C$1.2 billion Senior Unsecured Notes Offering

Our Montreal office advised Metro Inc. on a completed C$1.2 billion aggregate principal amount of senior unsecured notes, consisting of C$300 million aggregate principal amount of 2.68% Series F Senior Unsecured Notes due December 5, 2022, C$450 million aggregate principal amount of 3.39% Series G Senior Unsecured Notes due December 6, 2027 and C$450 million aggregate principal amount of 4.27% Series H Senior Unsecured Notes due December 4, 2047 (collectively, the Notes).

The net proceeds of the offering will be used by Metro to finance a portion of the purchase price for the previously announced acquisition of all of the issued and outstanding Class A subordinate voting shares and Class B shares of The Jean Coutu Group (PJC) Inc. (the Acquisition) and for general corporate purposes. The net proceeds were placed in escrow and will be released from escrow upon satisfaction of the applicable escrow release conditions relating to the completion of the Acquisition.

The team was led by Paul Raymond, Mathieu Deschamps, Jules Charette, Emmanuel Grondin, Renée Loiselle, and Weihe Feng.