Kruger Products Prices Senior Unsecured Notes

Executive Summary

• Kruger Products Inc. (“KPI”) entered into an underwriting agreement to issue and sell CDN $165 million of 6.250% senior unsecured notes due December 10, 2032 in a private placement.
• The offering is being led by National Bank Capital Markets, CIBC Capital Markets, Scotiabank and Desjardins Capital Markets and is expected to close on December 10, 2025, subject to customary conditions.
• Net proceeds will be used to fully repay borrowings outstanding under Kruger Products SB Inc.’s senior credit facilities and for general corporate purposes.

Key Details

• Notes issued: CDN $165 million principal amount, 6.250% interest, semi‑annual interest payments on June 10 and December 10 each year, commencing June 10, 2026.
• Maturity: December 10, 2032.
• Placement type: Private placement; not registered under the U.S. Securities Act or Canadian prospectus requirements.
• Underwriters / Joint book‑running managers: National Bank Capital Markets, CIBC Capital Markets, Scotiabank, Desjardins Capital Markets.
• Closing date: Anticipated December 10, 2025, subject to customary closing conditions.
• Use of proceeds:
• Repayment in full of borrowings outstanding under Kruger Products SB Inc.’s senior credit facilities.
• General corporate purposes.
• Guarantee structure: Notes are unsecured obligations of KPI and unconditionally guaranteed jointly and severally by certain KPI subsidiaries (including KPSB), the same guarantors as under KPI’s syndicated credit facility.
• Ranking: Senior in right of payment to all existing and future subordinated indebtedness; equal in right of payment to all non‑subordinated indebtedness except any debt that ranks senior by operation of law.
• Regulatory notes: Offering exempt from U.S. registration and Canadian prospectus requirements; not an offer or solicitation where such would be unlawful.

Notable Quotes

(No executive quotes were included in the release.)