06:49 AM EDT, 03/13/2025 (MT Newswires) -- CGI (GIB-A.TO, GIB) late on Wednesday priced a US$650 million offering of five-year senior unsecured notes. The notes will pay 4.95% interest per year.

Concurrently with the offering, CGI expects to seal a currency swap agreement to reduce the Canadian dollar equivalent cost of borrowing of the notes to 3.7125% per year.

Net proceeds, estimated at about US$641.3 million, will be used to repay debt and for general corporate purposes.

The offering is scheduled to close on or about March 14, subject to customary closing conditions.

CGI's share price at last look early on Thursday was 1% lower at US$102.80 in US pre-market trading.