Montreal advises SNC-Lavalin in issuing C$300m series 6 debentures and repurchasing C$40m series 1 debentures

Our Montreal office advised SNC-Lavalin Group Inc. in a concurrent private placement of C$300m principal amount of 3.80% series 6 senior unsecured debentures due August 19, 2024 and the repurchase of C$40m of 2.689% series 1 debentures due November 24, 2020.

The transaction closed on August 18, 2020. Proceeds of the issuance were used to repay certain outstanding indebtedness under a revolving facility, to fund the repurchase of C$40m of SNC-Lavalin’s series 1 debentures through one or more open market purchases and for general corporate purposes. The series 6 debentures are direct unsecured obligations of SNC-Lavalin and rank pari passu with all other unsecured and unsubordinated indebtedness of SNC-Lavalin.  

The team included Elliot Shapiro, Rachel Lesmerises, Alexandra Persaud and William Provencher-Campeau.