Date Closed

November 29, 2022

Lead Office

Montréal

Value

300.00 Million CAD

On November 29, 2022, Saputo Inc. (Saputo) completed an offering of C$300 million of 5.250% medium term notes due 2029 (the “Series 10 Notes”) through its Medium Term Notes Program. The Series 10 Notes have been assigned a rating of BBB (high) with a Stable Trend by DBRS Limited and a rating of Baa1 by Moody's Canada Inc. The proceeds of the offering will be used by Saputo for the repayment of a portion of the revolving bank credit facility under the Main Credit Facility, which was used to repay the $300 million aggregate principal amount of Series 4 medium term notes which matured on June 13, 2022 and for general corporate purposes.

The offering of the Series 10 Notes was completed by a syndicate of dealers co-led by National Bank Financial Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities, and Scotia Capital Inc., which included CIBC World Markets Inc., Desjardins Securities Inc., TD Securities 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, Romarick Prats, Mariya Voloshyn and Mathilde Melançon-Brais (Business) and Marjolaine Hémond Hotte (Financial Services).