North American Construction Group Ltd. announced on May 1, 2025, the successful closing of its previously announced private placement offering. The company issued $225 million aggregate principal amount of 7.75% Senior Unsecured Notes due May 1, 2030.
As stated, the proceeds from this offering will be utilized to repay indebtedness under the company's existing Credit Agreement. The remaining funds will be allocated for general corporate purposes, enhancing the company's financial flexibility.
The notes were offered for sale in Canada on a private placement basis and in the United States to qualified institutional buyers. This financing move strengthens the company's balance sheet by refinancing existing debt and securing capital for future operations.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.