Stantec Closes $425 Million Offering for Sustainable Growth
Stantec Secures $425 Million for Future Initiatives
(All financial figures are expressed in Canadian dollars)
EDMONTON, Alberta — Stantec Inc. (“Stantec”) (TSX, NYSE: STN), a recognized leader in sustainable engineering and environmental consulting, has successfully closed its private placement offering of $425 million in senior unsecured notes. These notes will mature on June 10, 2032, and carry an attractive interest rate of 4.374% per annum, priced at par.
Utilization of Proceeds from the Offering
Stantec plans to allocate the net proceeds from this offering towards reducing existing debt and enhancing their corporate strategies. This will further strengthen their financial position while enabling them to invest in projects that are pivotal for sustainable development.
The Significance of the Senior Unsecured Notes
The senior unsecured notes represent direct obligations of Stantec that share equal standing with other senior unsecured debts. They are positioned to rank above any forthcoming subordinated debt, ensuring that they are prioritized in terms of repayment. The notes are rated BBB by DBRS Limited, indicating a stable outlook, which reflects Stantec's commitment to maintaining a strong financial foundation.
Exemptions and Regulatory Compliance
It's important to note that these notes were not approved for public sale under Canadian securities regulations and were offered based on exemptions from public disclosure. Additionally, they have not been registered under the U.S. Securities Act of 1933, and cannot be sold in the U.S. or to U.S. persons.
Commitment to Community and Sustainability
About Stantec
Stantec focuses on empowering various stakeholders, addressing the pressing challenges of modern society. The company is at the forefront of sectors such as engineering, architecture, and environmental solutions. Their team of professionals is dedicated to providing the necessary expertise and innovative technologies that assist communities in managing key issues like aging infrastructure and energy transitions.
Global Reach and Local Impact
Stantec’s identity transcends geographical boundaries. The concept of community encompasses everyone involved with their projects—ranging from internal project teams to industry partners, and ultimately, the communities impacted by their initiatives. This holistic perspective inspires Stantec to take informed actions against global issues like climate change and infrastructure development.
Professional Excellence Driving Innovation
At Stantec, diverse expertise unites to bring creative solutions to challenges faced by communities around the world. The firm is made up of a wide array of professionals, including engineers, designers, and project managers, all committed to fostering innovative relationships that elevate community standards.
Stantec’s stock is listed on both the TSX and NYSE using the ticker STN, reinforcing its status as a trusted name in sustainable development and innovation.
Contact Information for Investor Relations
For more details about Stantec's offerings and financial strategies, interested parties can reach out to Jess Nieukerk in Investor Relations. They can be contacted at (403) 569-5389 or via email at jess.nieukerk@stantec.com.
Frequently Asked Questions
What is the purpose of Stantec's $425 million offering?
The funds are primarily intended to repay existing debt and support general corporate purposes, enhancing financial stability.
What is the maturity date for the senior unsecured notes?
The notes will mature on June 10, 2032, marking a long-term financing solution for Stantec.
How does Stantec prioritize its financial obligations?
The senior unsecured notes rank equally with other senior indebtedness, ensuring they are prioritized for repayment over future subordinated debts.
Who rates the notes issued by Stantec?
The notes have received a BBB rating with a stable trend from DBRS Limited, indicating a strong financial standing.
How can investors contact Stantec for further inquiries?
Investors can reach Jess Nieukerk at Stantec Investor Relations by phone or email for more information regarding financial inquiries.
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