WSP Announces Private Offering of $1 Billion Aggregate Principal Amount of Senior Unsecured Notes

Core Viewpoint - WSP Global Inc. has announced a $1 billion offering of senior unsecured notes to fund the acquisition of TRC Companies and for general corporate purposes [1][4]. Group 1: Offering Details - The offering consists of $500 million of 4.003% senior unsecured notes due January 22, 2032, and $500 million of 4.586% senior unsecured notes due January 22, 2036 [1][3]. - The notes will bear interest payable semi-annually, starting July 22, 2026 [3]. - The offering is expected to close on or about January 22, 2026, subject to customary closing conditions [2]. Group 2: Use of Proceeds - The net proceeds will be used to partially fund the acquisition of TRC Companies and reduce amounts to be advanced under a credit agreement [4]. - If the acquisition does not close, proceeds will be used for the repayment of existing indebtedness, including the redemption of the 2036 Notes [4]. Group 3: Redemption Conditions - The 2036 Notes will be subject to a special mandatory redemption if the acquisition is not completed by June 15, 2026, or if the merger agreement is terminated [5]. Group 4: Financial Obligations - The notes will rank pari passu with all existing and future senior unsecured indebtedness of WSP [6]. - The notes have been assigned a provisional rating of BBB (high) with a stable trend by DBRS Limited [6]. Group 5: Company Overview - WSP is a leading professional services firm operating in over 50 countries with approximately 75,000 professionals [12]. - The company specializes in engineering, advisory, and science-based expertise across various sectors including transportation, infrastructure, and energy [12].