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Saputo offers C$300M Series 9 Notes

Date Closed

June 22, 2021

Lead Office



300.00 Million CAD

On June 22, 2021, Saputo Inc. (Saputo) completed an offering of C$300 million of 2.297% medium term notes due 2028 (the “Series 9 Notes”) through its Medium Term Notes Program. The Series 9 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 the $300 million aggregate principal amount of Series 2 medium term notes due June 23, 2021.

The offering of the Series 9 Notes was completed by a syndicate of dealers co-led by BMO Nesbitt Burns Inc., National Bank Financial Inc., CIBC World Markets Inc., and RBC Dominion Securities, which included Desjardins Securities Inc., Scotia Capital 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, Konstantin Sobolevski, Karl Bherer and Romarick Prats.