SNC-Lavalin Issues $105 Million in Debentures
MONTREAL, CANADA--SEPTEMBER 12, 2000 - 11:29 EDT
SNC-Lavalin Group today announced that it has
entered into an underwriting agreement providing for an offering
of $105 million of 7.70 % Unsecured Debentures, due 2010. The
final prospectus was filed today with the securities regulatory
authorities in each of the provinces of Canada, and closing is
expected to occur on September 20, 2000.
The net proceeds from the offering will be used for general
corporate purposes, including the funding of potential
acquisitions and project investment opportunities. The debenture
issue has been underwritten by a syndicate led by RBC Dominion
Securities Inc., and including BMO Nesbitt Burns Inc., National
Bank Financial Inc. and Scotia Capital Inc.
"With this first issue in the debt capital markets, the investment
community has expressed great confidence and support for
SNC-Lavalin," said Jacques Lamarre, President and Chief Executive
Officer of SNC-Lavalin Group. "The debentures increase our
capital base and introduce an important new source of long-term
financing."
SNC-Lavalin Group is one of the leading engineering and
construction firms in the world, and a key player in the ownership
and management of infrastructure. The group and its companies
have offices across Canada and in 30 other countries, and are
currently working in some 100 countries. The company is listed on
the Toronto Stock Exchange (symbol: SNC). |
