Global convenience-store giant Alimentation Couche-Tard has priced a private offering of €750 million in Euro-denominated senior unsecured notes due in 2033.

The notes will carry a coupon of about 3.9% per annum and will be issued at par. The offering is expected to close on or about April 21, subject to customary closing conditions.

Montreal-based Couche-Tard said it intends to use the net proceeds to repay outstanding indebtedness, including refinancing its Euro-denominated senior unsecured notes due May 6, and to cover related fees and expenses.

The notes will constitute direct unsecured obligations of the company, ranking pari passu with all other current and future senior unsecured and unsubordinated debt. They will be guaranteed on a senior unsecured basis by certain wholly owned subsidiaries that also guarantee Couche-Tard’s senior credit facilities.

The offering will be made in the United States to qualified institutional buyers under Rule 144A of the U.S. Securities Act of 1933, and outside the U.S. to non-U.S. persons under Regulation S. The notes have not been, and will not be, registered under the U.S. Securities Act or applicable state or foreign-securities laws.

In Canada, the notes will be offered on a prospectus-exempt basis in accordance with applicable provincial securities laws.

Couche-Tard owns and Circle-K and other leading convenience-store chain, including those under its own brand, in Canada, the U.S. and other countries.

Pictured: Circle K store

Photo: Circle K