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DISSEMINATION IN THE U.S./
TORONTO,
Nov. 27, 2013 /CNW/ - Aecon Group
Inc. ("Aecon" or the "Company") (TSX: ARE) today announced that it
has completed its previously announced public offering of
$150 million aggregate principal
amount of 5.50% convertible unsecured subordinated debentures due
December 31, 2018 (the
"Debentures").
The offering of Debentures was completed on a
bought deal basis through a syndicate of underwriters led by TD
Securities Inc. and GMP Securities L.P. Aecon has also granted the
underwriters an over-allotment option to purchase up to an
additional $22.5 million aggregate
principal amount of Debentures, exercisable in whole or in part for
a period of 30 days following closing of the offering, to cover
over-allotments, if any.
As previously announced, Aecon intends to use
the net proceeds of the offering to refinance at maturity Aecon's
7.0% convertible unsecured subordinated debentures due September 30, 2014 and, in the interim, for
general corporate purposes.
The securities offered have not been and will
not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of such
Act. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy the securities in any
jurisdiction.
ABOUT AECON
Aecon Group Inc. is a Canadian leader in construction and
infrastructure development providing integrated turnkey services to
private and public sector clients. Aecon is pleased to be
consistently recognized as one of the Best Employers in
Canada.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This press release includes certain forward-looking statements
with respect to the Company and the offering of Debentures which
are necessarily based on a number of estimates and assumptions
that, while considered reasonable by the Company, are inherently
subject to significant risks, uncertainties, and
contingencies. These "forward-looking" statements are based
on currently available information but are subject to risks and
uncertainties. In addition to general global events outside Aecon's
control, there are factors which could cause actual results,
performance or achievements to vary from those expressed or
inferred herein including risks associated with the ability to
satisfy regulatory and commercial closing conditions of the
offering, the uncertainty associated with accessing capital markets
and the risks related to Aecon's business. Risk factors are
discussed in greater detail in the section on "Risk Factors" in the
Company's Annual Information Form filed on March 27, 2013 and available at www.sedar.com.
Forward-looking statements may include, without limitation,
statements regarding the over-allotment option and expected use of
proceeds of the offering. Forward looking statements, may in some
cases be identified by words such as "will," "plans," "believes,"
"expects," "anticipates," "scheduled," "estimates," "projects,"
"intends," "should" or the negative of these terms, or similar
expressions. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made and Aecon undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
SOURCE Aecon Group Inc.