WSP Global Announces Private Offering of $500 Million Senior Unsecured Notes

MONTREAL, April 15, 2021 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) announced today that it has priced an offering of $500 million aggregate principal amount of 2.408% senior unsecured notes due April 19, 2028 (the “Notes”).

The Notes are being offered through an agency syndicate consisting of CIBC Capital Markets and RBC Capital Markets as joint bookrunners and co-lead private placement agents, and including BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Scotia Capital Inc., BNP Paribas (Canada) Securities Inc., Desjardins Securities Inc. and J.P. Morgan Securities Canada Inc., as co-managers. The offering is expected to close on or about April 19, 2021, subject to customary closing conditions.

The Notes will be issued at par for aggregate gross proceeds of $500 million and will bear interest at a fixed rate of 2.408% per annum, payable semiannually until maturity on the 19^th day of April and October in each year beginning on October 19, 2021. The Corporation intends to use the net proceeds of the offering to repay the existing indebtedness and for other general corporate purposes.

The Notes will be direct, senior unsecured obligations of WSP, will rank pari passu with all other unsecured and unsubordinated indebtedness of WSP, and will be issued pursuant to a Trust Indenture, as supplemented by a first supplemental indenture, each to be dated April 19, 2021. The Notes have been assigned a provisional rating of BBB (high), with a stable trend, by DBRS Limited, and are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. See “Forward-Looking Statements”.

The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer to sell or a solicitation of an offer to buy the Notes in any jurisdiction where it is unlawful to do so.