PARKLAND ANNOUNCES US$500 MILLION OFFERING OF SENIOR UNSECURED NOTES

USA - English

• MEXICO - Spanish
• USA - español

CALGARY, AB, Aug. 12, 2024 /PRNewswire/ - Parkland Corporation ("Parkland", "we", the "Company", or "our") (TSX: PKI) announced today that, subject to market and other conditions, it plans to commence a private offering of US$500 million aggregate principal amount of senior unsecured notes due 2032.

Parkland intends to use the net proceeds of the offering for the repayment of a portion of the outstanding drawings under its credit facilities.

Consummation of the offering is subject to market and other conditions, and there can be no assurance that Parkland will be able to successfully complete the offering on the terms described above, or at all.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of the notes in any state, or jurisdiction in which such offer, solicitation, or sale would be unlawful.

The notes have not been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may be offered and sold outside the United States pursuant to Regulation S under the Securities Act.  In addition, the notes have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The notes will be offered and sold in Canada on a private placement basis only to "accredited investors" pursuant to certain prospectus exemptions.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements based on current expectations, including the size and terms of the offering and the use of proceeds from the offering if and when commenced and closed. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements.

Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE Parkland Corporation