The North West Company Inc. Announces the Refinancing of its US$70 Million Senior Notes
06 Junho 2014 - 1:23PM
Marketwired
The North West Company Inc. Announces the Refinancing of its US$70
Million Senior Notes
WINNIPEG, MANITOBA--(Marketwired - Jun 6, 2014) - The North West
Company Inc. ("North West") (TSX:NWC) is pleased to announce the
terms of the refinancing of its US$70.0 million 6.55% senior notes
that mature on June 15, 2014. The refinancing will be completed by
the private placement issuance of US$55 million 3.27% senior notes
and US$15 million floating rate senior notes at LIBOR plus a
spread. These senior notes will mature on June 16, 2021 and will be
secured by a floating charge against the assets of the Company and
rank pari passu with North West's other senior debt.
Closing of the refinancing is subject to the satisfaction of
customary conditions and is expected to occur on June 16, 2014
(June 15, 2014 is a non-business day).
Company
Profile
The North West Company Inc., through its subsidiaries, is a
leading retailer of food and everyday products and services to
rural communities and urban neighbourhoods in Canada, Alaska, the
South Pacific and the Caribbean. North West operates 226 stores
under the trading names Northern, NorthMart, Giant Tiger, AC Value
Center and Cost-U-Less and has annualized sales of approximately
CDN$1.5 billion. The common shares of North West trade on the
Toronto Stock Exchange under the symbol NWC.
The North West Company Inc.Edward KennedyPresident and
CEO204-934-1482204-934-1317ekennedy@northwest.caThe North West
Company Inc.John KingChief Financial
Officer204-934-1397204-934-1317jking@northwest.caThe North West
Company Inc.Paulina HiebertVice President Legal and Corporate
Secretary204-934-1756204-934-1317phiebert@northwest.cawww.northwest.ca
The North West (TSX:NWC)
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