IT and business consulting firm CGI Inc. (TSX: GIB.A) announced Thursday night the pricing of its previously announced offering of senior unsecured notes. The company is seeking to issue notes with an aggregate principal of US$1.0 billion.
The offering will consist of US$600 million in principal amount of 5-year notes carrying 1.450% interest rate per annum and US$400 million worth of 10-year notes bearing an annual interest rate of 2.300%.
The company relayed that it intends to use the proceeds from the offering on repaying debt of approximately $1.2 billion in total under its credit facility maturing March 2023.
The offering is expected to close on September 14, 2021, subject to customary closing conditions.
CGI last traded at $115.17 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
