ATS Has Entered Into An Underwriting Agreement For A Private Placement Of C$400M 6.50% Senior Unsecured Notes Due 2032, Upsized From The Initial Deal Size Of C$300M
Portfolio Pulse from Benzinga Newsdesk
ATS has entered into an underwriting agreement for a private placement of C$400M 6.50% senior unsecured notes due 2032, upsized from the initial deal size of C$300M. The notes will accrue interest at 6.50% per annum, payable semi-annually starting February 21, 2025.
August 15, 2024 | 10:40 am
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ATS has increased its private placement to C$400M 6.50% senior unsecured notes due 2032 from the initial C$300M. The notes will accrue interest at 6.50% per annum, payable semi-annually starting February 21, 2025.
The upsizing of the private placement indicates strong demand and confidence in ATS's financial stability. The 6.50% interest rate is attractive for investors, and the semi-annual payments provide a steady income stream. This move is likely to positively impact ATS's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100