Cargojet Inc. Prices an Offering of $250 Million Aggregate Principal Amount of 4.599% Senior Unsecured Notes Due 2030

Published: 2025-06-25 17:23:00 ET CJT.TO

Published on 06/25/2025 at 17:23

Cargojet Inc. announced that it has priced an offering (the "Offering") of $250 million aggregate principal amount of 4.599% senior unsecured notes due 2030 (the "Notes"). The net proceeds from the Offering are expected to be used to redeem in full Cargojet's 5.25% listed senior unsecured hybrid debentures due June 30, 2026, repay indebtedness under Cargojet's credit facilities and for general corporate purposes. The Notes have been assigned a provisional rating of BBB (low), with a stable trend, by Morningstar DBRS.

The Notes will be senior unsecured obligations of Cargojet that will rank equally with all other present and future unsecured and unsubordinated indebtedness and will be guaranteed on a senior unsecured basis by certain of Cargojet's subsidiaries. The Notes are being offered on a private placement basis in each of the Provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities laws. The Offering is being led by Scotia Capital Inc. and RBC Capital Markets, as Joint Lead Agents and Joint Active Bookrunners.

The closing of the Offering is expected to occur on or about June 30, 2025, subject to customary closing conditions.