MONTREAL, March 26,
2024 /CNW/ - AtkinsRéalis [SNC-Lavalin Group Inc.]
(TSX: ATRL), a fully integrated professional services and project
management company with offices around the world, announced today
that it has priced an offering of $400
million aggregate principal amount of 5.70% Series 8
unsecured debentures due March 26,
2029 (the Series 8 Debentures). The Series 8 Debentures are
being offered through a syndicate of agents led by BMO Capital
Markets, CIBC Capital Markets, National Bank Financial Markets, and
Scotiabank as joint bookrunners, and which also includes RBC
Dominion Securities Inc., TD Securities Inc., BNP Paribas
(Canada) Securities Inc., BofA
Securities, SMBC Nikko and Desjardins Securities Inc. The Series 8
Debentures will be issued at par and closing is expected to occur
on or about March 28, 2024, subject
to customary closing conditions. AtkinsRéalis intends to use the
net proceeds of the offering to repay existing indebtedness and for
general corporate purposes.
The Series 8 Debentures will bear interest at a fixed annual
rate of 5.70%, payable in equal semi-annual instalments, in
arrears, on March 26 and September 26 of each year until maturity,
commencing on September 26, 2024.
The Series 8 Debentures will be direct unsecured obligations of
AtkinsRéalis, will rank pari passu with all other unsecured
and unsubordinated indebtedness of AtkinsRéalis (including all of
its other existing debentures as well as indebtedness under its
existing main credit agreement) and will be guaranteed by the same
subsidiaries that guarantee AtkinsRéalis' obligations under its
existing main credit agreement and its other outstanding
debentures.
On March 18, 2024, DBRS Limited
(Morningstar DBRS) changed the trend on AtkinsRéalis to positive
from stable and on March 20, 2024,
Standard & Poor's (S&P) revised the outlook on the Company
to positive from negative. The Series 8 Debentures have been
assigned a provisional rating of BB (high), with a positive trend
by Morningstar DBRS and BB+ by S&P and they are being offered
in each of the Provinces of Canada
on a private placement basis in reliance upon exemptions from the
prospectus requirements under applicable securities legislation.
The Series 8 Debentures will be subject to a restricted period
ending four months and one day from the day of issuance in
accordance with applicable securities laws.
The Series 8 Debentures have not been and will not be qualified
for sale to the public under applicable securities laws in
Canada and, accordingly, any offer
and sale of the Series 8 Debentures in Canada will be made on a basis which is exempt
from the prospectus requirements of such securities laws. No
securities regulatory authority has either approved or disapproved
of the contents of this news release. The Series 8 Debentures have
not been and will not be registered under the United States
Securities Act of 1933, as amended (the U.S. Securities Act), or
the securities laws of any other jurisdiction, and may not be
offered or sold in the United
States absent registration under, or an applicable exemption
from the registration requirements of, the U.S. Securities Act.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer to
sell or a solicitation of an offer to buy the Series 8 Debentures
in any jurisdiction where it is unlawful to do so.
About AtkinsRéalis
Created by the integration of long-standing organizations dating
back to 1911, AtkinsRéalis is a world-leading professional services
and project management company dedicated to engineering a better
future for our planet and its people. We create sustainable
solutions that connect people, data and technology to transform the
world's infrastructure and energy systems. We deploy global
capabilities locally to our clients and deliver unique end-to-end
services across the whole life cycle of an asset including
consulting, advisory & environmental services, intelligent
networks & cybersecurity, design & engineering,
procurement, project & construction management, operations
& maintenance, decommissioning and capital. The breadth and
depth of our capabilities are delivered to clients in strategic
sectors such as Engineering Services in key regions (Canada, the United
States, the United Kingdom,
as well as Asia, the Middle East and Australia), Nuclear and Capital. News and
information are available at www.atkinsrealis.com or follow us on
LinkedIn.
Forward-looking Statements
Reference in this press release to the "Company" or to
"AtkinsRéalis" means, as the context may require, SNC-Lavalin Group
Inc. or all or some of its subsidiaries or joint arrangements or
associates. Statements made in this press release that describe the
Company's or management's expectations or strategies constitute
"forward-looking statements", which can be identified by the use of
the conditional or forward-looking terminology such as "expects",
"forecasts", "intends", "may", "objective", "plans", "projects",
"should", "will", "likely", or the negative thereof or other
variations thereon. Forward-looking statements also include any
other statements that do not refer to historical facts. Specific
forward-looking statements in this news release, include, but are
not limited to, statements with respect to the offering of Series 8
Debentures and the intended timing and use of proceeds thereof, and
with respect to the credit ratings assigned to the Series 8
Debentures. All such forward-looking statements are made pursuant
to the "safe-harbour" provisions of applicable Canadian securities
laws. The Company cautions that, by their nature, forward-looking
statements involve risks and uncertainties, and that its actual
actions and/or results could differ materially from those expressed
or implied in such forward-looking statements, or could affect the
extent to which a particular projection materializes.
Forward-looking statements are presented for the purpose of
assisting investors and others in understanding certain key
elements of the Company's current objectives, strategic priorities,
expectations and plans, and in obtaining a better understanding of
the Company's business and anticipated operating environment.
Readers are cautioned that such information may not be appropriate
for other purposes. Forward-looking statements made in this press
release are based on a number of assumptions believed by the
Company to be reasonable as at the date hereof. The assumptions are
set out throughout the Company's 2023 annual management's
disclosure & analysis ("MD&A") (particularly in the
sections entitled "Critical Accounting Judgments and Key Sources of
Estimation Uncertainty" and "How We Analyze and Report our
Results") filed with the securities regulatory authorities in
Canada, available on SEDAR+ at
www.sedarplus.ca and on the Company's website
at www.atkinsrealis.com under the "Investors" section. If
these assumptions are inaccurate, the Company's actual results
could differ materially from those expressed or implied in such
forward-looking statements. In addition, important risk factors
could cause the Company's assumptions and estimates to be
inaccurate and actual results or events to differ materially from
those expressed in or implied by these forward-looking statements.
Those risks are identified in the Company's MD&A (particularly
in the sections entitled "Risk and Uncertainties") and are not
exhaustive. The forward-looking statements herein reflect the
Company's expectations as at the date of this press release and are
subject to change after this date. The Company does not undertake
to update publicly or to revise any such forward-looking statements
whether as a result of new information, future events or otherwise,
unless required by applicable legislation or regulation.
SOURCE AtkinsRéalis