Alimentation Couche-Tard Inc. completes $3.2 billion cross-border debt financing to finance part of its $4.4 billion acquisition of CST Brands

July 26, 2017

On July 26, 2017, Alimentation Couche-Tard Inc. completed a Canadian offering of $700 million of 3.056% Series 6 Senior Unsecured Notes due 2024 and a US offering comprised of U.S.$1.0 billion principal amount of 2.700% Senior Unsecured Notes due 2022, U.S.$1.0 billion principal amount of 3.550% Senior Unsecured Notes due 2027 and U.S.$500.0 million principal amount of 4.500% Senior Unsecured Notes due 2047. The Canadian and US offerings were completed by way of private placement, through a syndicate of dealers that included National Bank Financial Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. in the case of the Canadian offering, and through initial purchasers that included HSBC Securities (USA) Inc., Wells Fargo Securities, LLC and MUFG Securities Americas Inc. in the case of the US offering.

Fasken Martineau acted as legal counsel to the syndicate of Canadian dealers in connection with the Canadian offering and as Canadian counsel to the syndicate of US dealers in connection with the US offering, with a team that included Jean-Pierre Chamberland and Sébastien Bellefleur (securities), and Claude Jodoin (tax).