ATS Announces Closing of US$250 Million Senior Notes Offering
CAMBRIDGE, ON /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announces the closing of its private offering of US$250 million aggregate principal amount of Senior Notes due 2023 (the "Notes"). The Notes were issued at par, bear interest at a rate of 6.50% per annum and mature on June 15, 2023. ATS intends to use the net proceeds of the Notes to repay amounts outstanding under its senior secured credit facility and for general corporate purposes.
ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services including pre-automation and after-sales services to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, chemicals, consumer products, electronics, food, beverage, transportation, energy, and oil and gas. Founded in 1978, ATS employs approximately 3,500 people at 26 manufacturing facilities and 47 offices in North America, Europe, Southeast Asia and China. The Company's shares are traded on the Toronto Stock Exchange under the symbol ATA.
Maria Perrella - Chief Financial Officer
Carl Galloway - Vice-President, Treasurer
Tel: 519 653-6500