Core Viewpoint - Alimentation Couche-Tard Inc. has announced a private debt offering totaling US$1.2 billion in senior unsecured notes and Cdn.$500 million in Canadian dollar denominated senior unsecured notes, aimed at repaying existing indebtedness under its U.S. commercial paper program [1][6]. Debt Offering Details - The US$ Notes consist of two tranches: US$700 million at 4.148% due in 2028 and US$500 million at 5.077% due in 2035 [8]. - The Cdn.$ Notes amount to Cdn.$500 million at 3.864% due in 2032 [8]. - The closing of the US$ Notes is expected around September 29, 2025, while the Cdn.$ Notes are expected to close on or about September 26, 2025, subject to customary closing conditions [1]. Security and Guarantees - The Notes will be direct unsecured obligations of Couche-Tard and will rank equally with all other current and future senior unsecured and unsubordinated indebtedness [2]. - Certain wholly-owned subsidiaries of Couche-Tard will guarantee the Notes on a senior unsecured basis [2]. Regulatory Compliance - The US$ Notes will be offered only to qualified institutional buyers in the U.S. and to non-U.S. persons outside the U.S. under specific exemptions from registration [3]. - The Cdn.$ Notes will be offered in Canada on an exempt basis from the prospectus requirements of Canadian securities laws [4].