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  • AutoCanada Inc. (ACQ) has closed its previously announced private placement offering of additional senior notes
  • The offering consisted of an additional $125 million of its existing 8.75% senior unsecured notes due February 11, 2025
  • The total principal amount of outstanding 8.75% senior notes due February 11, 2025, is $250 million
  • AutoCanada is a leading North American multi-location automobile dealership operator
  • AutoCanada Inc. (ACQ) is up 4.66 per cent, trading at C$47.63 per share at 2 pm ET

AutoCanada Inc. (ACQ) has closed its previously announced private placement offering of senior notes.

The offering consisted of an additional $125 million of its existing 8.75% senior unsecured notes due February 11, 2025 at a price of 106.625% plus accrued interest from and including February 11, 2021.

This is an increase from the initial offering size of $100 million.

The total principal amount of outstanding 8.75% senior notes due February 11, 2025, is $250 million.

Proceeds of the offering will be used to reduce the outstanding balance under its syndicated credit facility and for general corporate purposes, including acquisitions.

AutoCanada is a leading North American multi-location automobile dealership group currently operating dealerships in eight provinces and a group in Illinois, USA. 

AutoCanada Inc. (ACQ) is up 4.66 per cent, trading at C$47.63 per share at 2 pm ET.

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