CGI Inc.'s Notes available in both Canadian and American divisions within the company
In a significant financial move, CGI Inc., an independent IT and business consulting services firm, has completed a private offering of $1 billion in senior unsecured notes. The offering, which took place on September 14, 2021, consisted of $600 million 5-year notes and $400 million 10-year notes.
The purpose of this offering was to raise capital for general corporate purposes, which may include refinancing existing debt, funding acquisitions, or supporting other strategic initiatives. CGI intends to use the capital from the offerings to repay a US$1.25 million unsecured committed term loan credit facility maturing in March 2023.
The notes bear interest at 2.100% per annum. The 7-year notes, which make up $600 million of the offering, were also part of a separate offering of the same amount.
Hoskin & Harcourt LLP, a renowned law firm providing legal advice for various offerings and transactions, acted as Canadian counsel to the initial purchasers for the US offering. The legal team at Hoskin & Harcourt LLP specializes in Corporate, Financial Services, and Tax matters. Michael Innes, Rob Lando, Sandra Malcolm, Neil Rosen, Chris Bennett, and Gregory Wylie were involved in the Corporate, Financial Services, and Tax aspects of the offering.
While the search results do not explicitly mention the law firms or legal counsel involved in CGI Inc.'s September 2021 senior unsecured notes offering, Hoskin & Harcourt LLP was also involved in the legal advisory for the Canadian offering. The firm also advised the agents on the Canadian offering.
In addition to its IT and business consulting services, CGI offers systems integration, managed IT, and business process services. The company also provides intellectual property solutions.
It's important to note that the legal advisors for the offering, beyond Hoskin & Harcourt LLP, were not identified in the provided search results. For precise details on the purpose and legal advisors, consulting CGI Inc.'s official press release or SEC filings from September 2021 would provide authoritative information.
The US offering and Canadian offering were separate but related events. The offering of senior unsecured notes marks a significant step for CGI Inc., as it continues to grow and expand its services in the IT and business consulting industry.
The offering of $1 billion in senior unsecured notes by CGI Inc. was aimed at raising capital for various purposes such as refinancing existing debt, funding acquisitions, or supporting other strategic initiatives. Furthermore, CGI plans to utilize the capital from this offering to repay a US$1.25 million unsecured committed term loan credit facility maturing in March 2023.
