SNC-Lavalin issues debentures earning 6.19% interest
June 30, 2009
By Canadian Consulting Engineer
On June 26, SNC-Lavalin Group announced it is issuing $350 million in debentures. The debentures will be dated July...
On June 26, SNC-Lavalin Group announced it is issuing $350 million in debentures. The debentures will be dated July 3, 2009 and will mature on July 3, 2019. Interest will be paid at a rate of 6.19% per annum commencing in January 2010. They are being offered for sale through a syndicate of agents led by RC Dominion Securities.
SNC-Lavalin said it expects to use the net proceeds from the offering to pay off at maturity its $105 million principal amount of 7.70% unsecured debentures that are due on September 2010.
This will enable the company to fund potential investments in Infrastructure Concession Investments, “and potential selective business acquisitions and for general corporate purposes.”