North American Construction Group Ltd. Announces the Completion of Its Redemption of Its 5.5% Convertible Debentures Due June 30, 2028
North American Construction Group (NOA) has successfully completed the redemption of its 5.5% Convertible Debentures originally due June 30, 2028. The redemption process was finalized on February 28, 2025, following a notice issued to debenture holders on January 29, 2025.
Debenture holders were given the option to either convert their holdings into common shares at $24.23 per share or receive the principal amount plus accrued interest. Of the total debentures, $72,749,000 in principal amount was converted to common shares, while the remaining $1,357,000 was redeemed by the company on the redemption date.
North American Construction Group (NOA) ha completato con successo il riscatto delle sue obbligazioni convertibili al 5,5% originariamente in scadenza il 30 giugno 2028. Il processo di riscatto è stato finalizzato il 28 febbraio 2025, a seguito di una comunicazione inviata agli obbligazionisti il 29 gennaio 2025.
Gli obbligazionisti hanno avuto la possibilità di convertire le loro partecipazioni in azioni ordinarie a $24,23 per azione oppure ricevere l'importo principale più gli interessi maturati. Del totale delle obbligazioni, $72.749.000 in valore principale è stato convertito in azioni ordinarie, mentre i restanti $1.357.000 sono stati riscattati dall'azienda alla data di riscatto.
North American Construction Group (NOA) ha completado con éxito el rescate de sus Bonos Convertibles al 5,5% que originalmente vencían el 30 de junio de 2028. El proceso de rescate se finalizó el 28 de febrero de 2025, tras un aviso enviado a los tenedores de bonos el 29 de enero de 2025.
Los tenedores de bonos tuvieron la opción de convertir sus tenencias en acciones ordinarias a $24,23 por acción o recibir el monto principal más los intereses acumulados. Del total de los bonos, $72.749.000 en monto principal se convirtió en acciones ordinarias, mientras que los restantes $1.357.000 fueron rescatados por la empresa en la fecha de rescate.
북미 건설 그룹 (NOA)는 원래 2028년 6월 30일 만기 예정인 5.5% 전환사채의 상환을 성공적으로 완료했습니다. 상환 절차는 2025년 2월 28일에 최종 완료되었으며, 이는 2025년 1월 29일에 채권자에게 발송된 통지에 따른 것입니다.
채권자들은 $24.23 per share의 가격으로 보유한 채권을 보통주로 전환하거나 원금과 누적 이자를 받을 수 있는 선택권이 주어졌습니다. 전체 채권 중 $72,749,000의 원금이 보통주로 전환되었고, 나머지 $1,357,000는 상환일에 회사에 의해 상환되었습니다.
North American Construction Group (NOA) a réussi à réaliser le remboursement de ses Obligations Convertibles à 5,5% initialement dues le 30 juin 2028. Le processus de remboursement a été finalisé le 28 février 2025, suite à un avis envoyé aux détenteurs d'obligations le 29 janvier 2025.
Les détenteurs d'obligations ont eu la possibilité de convertir leurs avoirs en actions ordinaires à $24,23 par action ou de recevoir le montant principal plus les intérêts accumulés. Sur le total des obligations, $72.749.000 de montant principal a été converti en actions ordinaires, tandis que les $1.357.000 restants ont été remboursés par l'entreprise à la date de remboursement.
North American Construction Group (NOA) hat erfolgreich die Rückzahlung seiner 5,5% wandelbaren Anleihen abgeschlossen, die ursprünglich am 30. Juni 2028 fällig waren. Der Rückzahlungsprozess wurde am 28. Februar 2025 abgeschlossen, nachdem am 29. Januar 2025 eine Mitteilung an die Anleiheinhaber versandt wurde.
Die Anleiheinhaber hatten die Möglichkeit, ihre Anteile entweder in Stammaktien zu einem Preis von $24,23 pro Aktie umzuwandeln oder den Nennbetrag zuzüglich aufgelaufener Zinsen zu erhalten. Von den insgesamt ausgegebenen Anleihen wurden $72.749.000 in Nennbetrag in Stammaktien umgewandelt, während die verbleibenden $1.357.000 am Rückzahlungstag von dem Unternehmen zurückgezahlt wurden.
- High conversion rate of debentures to equity (98.2% of total)
- Reduction in interest-bearing debt obligations
- Strengthened balance sheet through debt-to-equity conversion
- Potential dilution of existing shareholders due to conversion of $72.7M debentures
ACHESON, Alberta, Feb. 28, 2025 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG” or “the Company”) (TSX:NOA/NYSE:NOA) is pleased to announce the completion of its redemption of its
On January 29, 2025, the Company issued a notice of redemption to the holders of the Debentures to redeem all issued and outstanding Debentures at a redemption price equal to their principal amount, plus accrued and unpaid interest thereon up to, but excluding, the Redemption Date. Holders of the Debentures had the option to convert such Debentures into common shares of the Company (“Common Shares”) prior to the Redemption Date at a price of
About the Company
NACG is one of Canada and Australia’s largest providers of heavy construction and mining services. For more than 70 years, NACG has provided services to the mining, resource, and infrastructure construction markets. For more information about North American Construction Group Ltd., visit www.nacg.ca.
For further information contact:
Jason Veenstra, CPA, CA
Chief Financial Officer
North American Construction Group Ltd.
(780) 948-2009
jveenstra@nacg.ca
www.nacg.ca
FAQ
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