NACG Closes $200M Senior Notes Offering

North American Construction Group Ltd. (NACG) announced the successful closing of its private placement offering, raising $200 million in aggregate principal amount of 7.00% Senior Unsecured Notes due June 16, 2031. The proceeds from this offering will be used to repay existing indebtedness under its Credit Agreement and for general corporate purposes. The Notes were offered in Canada on a private placement basis and in the United States to qualified institutional buyers in reliance on Rule 144A. The offering was underwritten by several financial institutions, including National Bank Financial Inc., ATB Capital Markets Corp., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Canaccord Genuity Corp., and Raymond James Ltd. NACG, a premier provider of heavy civil construction and mining services, has been operating for over 70 years. The company also included forward-looking statements regarding the use of proceeds and potential risks, cautioning investors to not place undue reliance on them.