07:13 AM EST, 12/17/2024 (MT Newswires) -- ATS Corp ( ATS ) overnight Monday signed an underwriting agreement with a syndicate to sell, pursuant to a private placement offering an additional $200 million aggregate principal amount of its 6.5% senior unsecured notes due 2032. The aggregate principal amount of additional notes was upsized from the initial target reopening size of $150 million.

The company said the notes would have identical terms, be fungible with and be part of a single series with the $400 million aggregate principal amount of 6.50% senior unsecured notes due 2032 issued by the company on Aug. 21. The offering is expected to close on or about Dec. 19.

ATS added it intends to use the net proceeds of the offering to pay outstanding amounts owed under the revolving line of credit available under its senior syndicated credit facility.

Shares of the U.S.-listed stock were last seen down US$0.81 or 3%, at US$30.13 in premarket trading. Shares on the Toronto Stock Exchange closed down C$0.66 or 1%, to C$44.07 on Monday.