Metro Inc. Prices Aggregate C$350 Million Senior Unsecured Notes Offering

Executive Summary

• Metro Inc. priced a private‑placement of C$350 million aggregate principal amount of 3.469% Series M Senior Unsecured Notes due 2031.
• The notes were priced at par ($1,000 per $1,000 principal) delivering an effective yield of 3.469% per annum.
• Net proceeds will be used to repay indebtedness under Metro’s revolving credit facility and for general corporate purposes.

Key Details

• Offering Size: C$350 million aggregate principal amount.
• Coupon / Yield: 3.469% coupon; priced at par, effective yield 3.469% per annum if held to maturity.
• Maturity: February 25, 2031.
• Pricing Date: February 23, 2026.
• Use of Proceeds: Repayment of revolving credit facility indebtedness and general corporate purposes.
• Lead Managers / Joint‑Bookrunners: BMO Capital Markets, National Bank Capital Markets, Scotia Capital Inc.
• Co‑Managers: CIBC World Markets Inc., Desjardins Securities Inc., RBC Capital Markets, TD Securities Inc., Casgrain & Company Limited.
• Rating: Provisional BBB (high) – Stable trend by DBRS Limited; BBB by S&P Ratings Services.
• Closing Expected: February 25, 2026, subject to customary closing conditions.
• Offering Structure: Private placement in Canada relying on prospectus exemptions; notes are direct unsecured obligations ranking pari passu with other unsecured, unsubordinated debt.

Notable Quotes

(No executive quotes were included in the release.)