The acquisition and the related transaction costs are being financed through a combination of:
• a bought deal public offering of subscription receipts at a price of $35.85 per subscription receipt and up to additional gross proceeds of $75 million pursuant to an over-allotment option;
• a private placement of subscription receipts at a price of $35.85 per placement subscription receipt to two existing shareholders: Canada Pension Plan Investment Board and la Caisse de dépôt et placement du Québec and up to additional gross proceeds of $60 million pursuant to the additional subscription option;
• the implementation of the new credit facilities which consist of a US$800 million revolving facility, a US$400 million term facility and a $400 million equity bridge facility.
The underwriters were represented by Fasken Martineau with a team composed of Gabriel Castiglio, Jean-Pierre Chamberland, Jean Michel Lapierre, Caitlin Rose, Marie-Christine Valois (M&A and Securities) and Gilles Carli (Tax).