In This Article:
LAVAL, QC, April 28, 2025 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Couche-Tard" or the "Corporation") (TSX: ATD), announced today that it has amended its U.S. commercial paper program (the "U.S. Commercial Paper Program"), initially launched on May 9, 2022 and pursuant to which it may issue from time to time on a private placement basis unsecured commercial paper notes with maturities not exceeding 397 days from the date of issue (the "Notes"), in order to increase the aggregate principal amount of Notes that may be issued by the Corporation and outstanding at any one time from US$2.5 billion to US$3.5 billion. Couche-Tard intends to use the proceeds from the issuance of Notes for general corporate purposes.
The Notes will remain senior unsecured obligations of the Corporation and will rank equally and pari passu with all of its existing and future senior unsecured and unsubordinated indebtedness. The Notes will continue to be guaranteed on a senior unsecured basis by certain wholly-owned subsidiaries of Couche-Tard that are guarantors under the Corporation's senior credit facilities. Couche-Tard's senior revolving credit facility, now available for a total amount of US$3.5 billion, continues to serve as a liquidity backstop for repayment of the Notes issued under the program.
The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and may not be offered or sold to or purchased by any resident of Canada.
The Notes to be offered under the U.S. Commercial Paper Program have not been and will not be registered under the Securities Act of 1933, as amended, or under any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press 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 Notes in the United States or any jurisdiction where it is unlawful to do so.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and mobility, operating in 29 countries and territories, with close to 17,000 stores, of which approximately 13,000 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of the People's Republic of China. Approximately 149,000 people are employed throughout its network.