Construction/Building — June 26, 2009
SNC-Lavalin announces pricing of debentures
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO US
NEWSWIRE SERVICES
MONTREAL, June 26, 2009 /CNW Telbec/ - SNC-Lavalin Group Inc. announces
that it has priced the issuance of an aggregate principal amount of $350
million 6.19% debentures (the "Debentures"). The Debentures are being offered
for sale on a marketed basis through a syndicate of agents led by RBC Dominion
Securities Inc. The Debentures will be dated July 3, 2009 and will mature on
July 3, 2019. Interest on the Debentures at the rate of 6.19% per annum will
be payable semi-annually in arrears in January and July in each year,
commencing January 3, 2010, until July 3, 2019, at which time the Debentures
will be fully paid off. The Closing is expected to take place on July 3, 2009.
The Corporation expects to use the net proceeds from the offering to
fully pay off at maturity its $105 million principal amount 7.70% unsecured
debentures due in September 2010, to fund potential investments in
Infrastructure Concession Investment opportunities and potential selective
business acquisitions and for general corporate purposes.
"We are pleased with the interest and support of investors," said Pierre
Duhaime, President and Chief Executive Officer, SNC-Lavalin Group Inc. "This
transaction permits the Corporation to better match its long term assets with
its long term capital. Despite our cash position, we felt it would be prudent
to issue debentures because of the upcoming maturity of our outstanding
debentures, and the many infrastructure concession investment and business
acquisitions opportunities that we foresee."
The credit rating for the Debentures assigned by S&P is BBB+ and by DBRS
is BBB (high).
The Corporation has filed a final short form prospectus with securities
regulatory authorities or similar authorities in each of the provinces of
Canada in connection with the offering of the Debentures.
The securities offered have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any State in which such offer, solicitation or sale would be
unlawful. The final short form prospectus is available on SEDAR at
www.sedar.com.
SNC-Lavalin (TSX: SNC) is one of the leading engineering and construction
groups in the world and a major player in the ownership of infrastructure, and
in the provision of operations and maintenance services. SNC-Lavalin has
offices across Canada and in 35 other countries around the world, and is
currently working in some 100 countries. www.snclavalin.com.
-------------------------------------------------------------------------
Reference in this press release, and hereafter, to the "Corporation" or
to "SNC-Lavalin" means, as the context may require, SNC-Lavalin Group
Inc. and all or some of its subsidiaries or joint ventures, or SNC-
Lavalin Group Inc. or one or more of its subsidiaries or joint ventures.
Statements made in this press release that describe the Corporation's or
management's budgets, estimates, expectations, forecasts, objectives,
predictions or projections of the future may be "forward-looking
statements", which can be identified by the use of the conditional or
forward-looking terminology such as "anticipates", "believes",
"estimates", "expects", "may", "plans", "projects", "should", "will", or
the negative thereof or other variations thereon. The Corporation
cautions that, by their nature, forward-looking statements involve risks
and uncertainties, and that its actual actions and/or results could
differ materially from those expressed or implied in such forward-looking
statements, or could affect the extent to which a particular projection
materializes. For more information on risks and uncertainties, and
assumptions that would cause the Corporation's actual results to differ
from current expectations, please refer to the section "Risks and
Uncertainties" and the section "How We Budget and Forecast Our Results
and Basis for Providing Financial Guidance", respectively, in the
Corporation's Annual Report under "Management's Discussion and Analysis",
and under the section "Caution regarding forward-looking statements" of
the Corporation's most recent Annual Information Form filed with the
securities regulatory authorities in Canada, available at SEDAR
(www.sedar.com). Unless otherwise mentioned, the forward-looking
statements herein reflect the Corporation's expectations as of the date
of this press release and are subject to change after this date.
-------------------------------------------------------------------------
For further information: Investors: Denis Jasmin, Vice-President, Investor Relations, (514) 393-8000, ext. 7553, denis.jasmin@snclavalin.com; Media: Gillian MacCormack, Vice-President, Global Public Relations, (514) 393-8000, ext. 7354, gillian.maccormack@snclavalin.com; SNC-Lavalin press releases are available on its website at www.snclavalin.com.
Latest Industry Press Releases
Updated 18:03 MDT, September 2, 2010 
Construction/Building
Aecon awarded $33 million MTO contract to expand Highway 11 (2010-09-02)
Leisure Canada Commends Cuban Golf Course Initiative (2010-09-02)
GENIVAR Income Fund Acquires Pryde Schropp McComb Inc., an engineering firm specializing in the aviation industry (2010-09-02)
CanWel Building Materials Announces Appointment (2010-09-02)
Winalta Inc. announces fourth extension of CCAA protection until September 7, 2010 (2010-09-01)
PFB Corporation Announces Normal Course Issuer Bid (2010-09-01)
Empire Industries Announces Proposed Private Placement, Stock Option Grants (2010-09-01)
Lakeside Steel Breaks Ground on New Manufacturing Facility in Alabama (2010-09-01)
Retrocom Mid-Market REIT Announces $11 Million Investment in Lincoln Value Centre, St. Catharines, Ontario (2010-08-31)
Stantec Increases Credit Facility to C$350 Million and Extends Maturity Date to August 2013 (2010-08-31)
RioCan REIT Announces $124.5 Million Public Offering of Trust Units (2010-08-30)
Large JJM Construction Ltd. consignment in next Ritchie Bros. Chilliwack auction (2010-08-30)
Empire Industries Reports 2010 Second Quarter Results, Appointment of Independent Board Chair (2010-08-30)
Canadian Equipment Rental Fund Limited Partnership Results for the Second Quarter 2010 (2010-08-27)
Aecon announces closing of Cow Harbour asset purchase and launch of new Aecon Mining business (2010-08-27)
CITY COUNCIL APPROVES WATERFRONT TORONTO'S BAYSIDE DEVELOPMENT PROJECT (2010-08-27)
Global Summit Real Estate Inc. Announces Dividend (2010-08-27)
Tribute Communities Links Past and Future With Cornerstone Ceremony at RCMI Condominium (2010-08-27)
CanWel Building Materials Announces Appointment (2010-08-26)
Stantec to Significantly Increase Architecture Practice With the Planned Acquisition of Anshen Allen (2010-08-26)
Allied Properties Real Estate Investment Trust Announces $50 Million Public Equity Offering (2010-08-26)
| MOST POPULAR STORIES |
- Four companies short-listed to renovate London, Ontario hospital
- Delcan to provide enegineering services for Highway 407 extension
- Hamilton water treatment plant stays in service during rebuilding operation
- Plenty of work ahead as Ontario construction-site safety blitz ends
- Construction, engineering companies mergers increased in Q2: Report
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 263 projects with a total value of $8,919,878,049 that Reed Construction Data Building Reports reported on yesterday.
$120,000,000 Ottawa ON Negotiated
CONDOMINIUM APARTMENT BUILDING
$120,000,000 Toronto ON Negotiated
$50,000,000 Ottawa ON Prebid
| CURRENT STORIES |
- Ground broken on Halifax RCMP headquarters
- Fanshawe College’s new Centre for Applied Transportation Technologies goes green
- Vanbots continues work on York University Life Sciences Building in Toronto
- Manitoba introduces new farm building code
- Heavy rains wash away bridges to Nova Scotia fishing village
- South Korea calls for financial safety net
- Jobsite safety a shared duty: Mechanical Contractors Association
- New technology could help find Jimmy Hoffa: Study
- Crane operator certification deadline looms in British Columbia
- High-tech oil sands project near Fort McMurray, Alberta could change industry
- Saskatoon bridge closed indefinitely over structural concerns
- City of Regina project turns up all sorts of surprises
- Awareness about qualifications-based selection lacking: Survey
- Canadian Institute of Steel Construction launches Steel Day
- Saskatchewan bridge collapses, causing crane to topple
- Crane tips over, killing worker and injuring two
- Saskatoon man pulled from hole at construction site
- Churchill airport gets government cash for infrastructure upgrades
- Stantec acquires health care architectural firm
