Metro issues C$300m Series J Senior Unsecured Notes
Canada | February 02, 2022
Client: Metro
Our Montreal office advised Metro Inc. on the issuance of C$300m of 1.922% Series J senior unsecured notes. The net proceeds of the offering were used by Metro for the repayment of the Series C senior unsecured notes due December 1, 2021, and for general corporate purposes.
In conjunction with this offering, Metro entered into a C$300m interest rate swap effectively locking in a floating rate of interest of 11 basis points (0.11%) over the 3-month bankers' acceptance rate (CDOR) over the life of the Series J Notes.
In conjunction with this offering, Metro entered into a C$300m interest rate swap effectively locking in a floating rate of interest of 11 basis points (0.11%) over the 3-month bankers' acceptance rate (CDOR) over the life of the Series J Notes.