AutoCanada Inc. announced that it intends to offer $300 million of 7-year Senior Unsecured Notes. The Notes will be offered and sold on a private placement basis to "accredited investors" in certain provinces of Canada and "qualified institutional buyers" in the United States. Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., and RBC Dominion Securities Inc. are acting as Joint Bookrunning Managers, ATB Capital Markets Inc. as Lead Manager, and HSBC Securities (Canada) Inc., National Bank Financial Inc., Canaccord Genuity Corp., Cormark Securities Inc., Stifel Nicolaus Canada Inc., Acumen Capital Finance Partners Limited and TD Securities Inc. are acting as Co-Managers for the Offering.

The Company intends to use the net proceeds of the Offering to fund the redemption of its outstanding $250 million 8.75% Senior Notes due 2025 and to reduce the outstanding balance under its syndicated credit facility. In addition, the Company has received commitments to amend and extend its existing credit facility for three years to 2025, which amendments are expected to become effective on or prior to the closing of the Offering. The amended credit facility maintains the revolving facility at $225 million and includes a $1,060 million wholesale floorplan financing facility and a $15 million wholesale leasing facility, for total aggregate bank facilities of $1.3 billion.

The Company is also pleased to welcome The Toronto-Dominion Bank to its existing syndicate of lenders which includes The Bank of Nova Scotia (Sole Bookrunner), Canadian Imperial Bank of Commerce, Royal Bank of Canada, Bank of Montreal, HSBC Bank Canada and Alberta Treasury Branches.