Saputo Inc. completes offering of C$350M of 1.415% medium term notes due 2026

On November 19, 2020, Saputo Inc. ("Saputo") completed an offering of C$350 million of 1.415% medium term notes due 2026 (the Series 8 Notes) through its Medium Term Notes Program. The Series 8 Notes have been assigned a rating of BBB (high) with a Stable Trend by DBRS Limited and a rating of Baa1 with a Stable Outlook by Moody's Canada Inc. The proceeds of the offering will be used by Saputo for the repayment of a portion of the third tranche of its non-revolving term facility under the credit agreement dated February 21, 2019, entered into in connection with the acquisition of Dairy Crest Group plc completed on April 15, 2019, and for general corporate purposes.

The offering of the Series 8 Notes was completed by a syndicate of dealers co-led by National Bank Financial Inc., BMO Nesbitt Burns Inc., TD Securities Inc. and Desjardins Securities Inc. and which included CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Merrill Lynch Canada Inc., MUFG Securities (Canada), Ltd. and Rabo Securities Canada, Inc.

McCarthy Tétrault LLP advised syndicate of dealers with a team led by Patrick Boucher that included Vincent Laurin and Karl Bherer.