METRO INC. announced the pricing of a private placement offering of CAD 350 million aggregate principal amount of 3.469% Series M Senior Unsecured Notes due February 25, 2031 . The Series M Notes will carry a coupon of 3.469% and were priced at $1,000 per $1,000 principal amount, for an effective yield of 3.469% per annum if held to maturity. Metro intends to use the net proceeds of the offering for the repayment of indebtedness incurred under its revolving credit facility and for general corporate purposes. BMO Capital Markets, National Bank Capital Markets and Scotia Capital Inc. are acting as co-lead managers and joint-bookrunners for the offering and CIBC World Markets Inc., Desjardins Securities Inc., RBC Capital Markets, TD Securities Inc. and Casgrain & Company Limited are acting as co-managers. The Series M Notes will be direct unsecured obligations of Metro and will rank pari passu with all other unsecured and unsubordinated indebtedness of Metro.
The Series M Notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation and have been assigned provisional ratings BBB (high) with a Stable trend, by DBRS Limited, and BBB, by Standard & Poor's Ratings Services. Closing of the offering is expected to take place on February 25, 2026, subject to customary closing conditions.
Metro Inc. is a food and pharmacy retailer and distributor company. The Company, through its activities as a retailer, franchisor or distributor, and manufacturer operates or services a network of supermarkets, discount stores and pharmacies. It operates approximately 980 food stores under several banners, including Metro, Metro Plus, Super C, Food Basics, Adonis and Premiere Moisson, as well as 640 pharmacies primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners. The Metro banner, with its 328 stores including 120 Metro Plus stores in Quebec, is a supermarket chain. The Super C banner operates 103 discount stores in Quebec and offers a range of grocery products. Food Basics is a discount store providing quality products to customers in 144 locations across Ontario. Its Food Basics Pharmacy is a full-service pharmacy and offers professional services, such as health reminders and medical profiles, among others. It also provides e-commerce services.
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