CGI announces pricing of US$650M of 5-year notes

Core Viewpoint - CGI has announced the pricing of a US $650 million offering of senior unsecured notes, with a 4.95% annual interest rate, aimed at repaying existing debt and for general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of 5-year senior unsecured notes, expected to close around March 14, 2025, subject to customary conditions [1]. - The net proceeds from the offering are anticipated to be approximately US$ 641.3 million after deducting fees and expenses [2]. - CGI plans to enter into a currency swap agreement to lower the Canadian dollar equivalent cost of borrowing to 3.7125% per annum [1]. Group 2: Regulatory Information - The notes will be offered to qualified institutional buyers in the U.S. under Rule 144A and outside the U.S. under Regulation S of the U.S. Securities Act [3]. - The notes have not been registered under the Securities Act and may not be sold in the U.S. without an exemption [4]. Group 3: Company Overview - CGI, founded in 1976, is one of the largest independent IT and business consulting firms globally, with 91,000 professionals [5]. - The company reported revenue of C$14.68 billion for Fiscal 2024 [5].