06:43 AM EDT, 08/15/2024 (MT Newswires) -- ATS Corporation ( ATS ) , an automation solutions provider, on Wednesday priced an upsized $400 million offering of 6.50% senior unsecured notes due 2032. The initial deal size had been $300 million.

A statement noted the notes will be issued at a price of $1,000 per $1,000 principal amount of notes. The Notes will accrue interest at the rate of 6.50% per annum, payable in cash in equal payments semi-annually in arrears on February 21 and August 21 of each year, commencing on February 21, 2025.

ATS said 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.

Subject to customary closing conditions, the closing of the offering is expected to occur on or about August 21.

ATS eased $0.04 to $36.71 yesterday on the TSX, near a 52 week low.