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Mullen Group Ltd. Announces Pricing of Private Placement Notes Offering
- Mullen Group Ltd. Announced a private placement of CAD$400 million senior secured notes, expected to close on July 10, 2025.
- The offering is intended to refinance outstanding private placement liabilities set to mature in October 2026, amid the ongoing economic challenges stemming from tariffs and trade tensions.
- The notes will mature on July 10, 2037, rank pari passu with Mullen's outstanding notes due 2034 and its bank credit facilities.
- The offering includes US$50 million at 6.91% yield and CAD$325 million at 6.04% yield, with interest payable semi-annually starting December 7, 2025, as stated by Chair Murray K. Mullen.
- Mullen Group plans to use net proceeds to prepay debt and support corporate purposes, reflecting its ongoing operations in transportation and logistics services across North America.
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Mullen Group Ltd. Announces Pricing of Private Placement Notes Offering
OKOTOKS, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- (TSX:MTL) Mullen Group Ltd. ("Mullen Group", "We", "Our" and/or the "Corporation") today announced that it has priced an approximately CAD$400.0 million aggregate principal amount senior secured notes offering (the "Notes Offering"), by way of a private placement. The senior secured notes (the "Notes") will be guaranteed by Mullen Group's subsidiaries, MT Investments Inc. and MGL Holding Co. Ltd…
·New York, United States
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