North American Construction Group Ltd. Announces Closing of Additional $125 Million Senior Unsecured Notes

Executive Summary

• North American Construction Group Ltd. (NACG) closed a private placement offering of $125 million aggregate principal amount of 7.75% senior unsecured notes due May 1, 2030.
• The new notes increase the total outstanding senior note balance to $350 million (including the $225 million issued on May 1, 2025).
• Proceeds will be used to repay indebtedness under NACG’s existing credit agreement and for general corporate purposes.

Key Details

• Offering Size: $125 million aggregate principal amount of 7.75% Senior Unsecured Notes due May 1, 2030.
• Total Outstanding Debt: $350 million aggregate principal amount (including the $225 million Initial Notes issued on May 1, 2025).
• Interest Rate: 7.75% per annum.
• Maturity Date: May 1, 2030.
• Use of Proceeds: Repayment of indebtedness under existing Credit Agreement; general corporate purposes.
• Underwriters: National Bank Capital Markets, ATB Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Canaccord Genuity Corp., Raymond James Ltd.
• Placement Structure: Private placement in Canada under prospectus exemptions; U.S. sales to qualified institutional buyers pursuant to Rule 144A; offshore sales under Regulation S.

Notable Quotes

(No executive quotes were included in the release.)