Toromont Prices Private Offering of Cdn$300 Million 3.76% Senior Unsecured Notes Due 2030

Toromont Prices Private Offering of Cdn$300 Million 3.76% Senior Unsecured Notes Due 2030

TSX Stock Symbol:  TIH

TORONTO, March 26, 2025 /CNW/ - Toromont Industries Ltd. (TSX: TIH) ("Toromont")  announced today that it has priced a Canadian offering of Cdn$300 million aggregate principal amount of 3.76% senior unsecured notes due 2030 ("Notes"). The offering is expected to close on March 28, 2025, subject to customary closing conditions. The Notes will be unsecured, unsubordinated obligations of Toromont and will rank pari passu with its other unsecured, unsubordinated debt.

Toromont intends to use the net proceeds of the offering for the repayment of indebtedness and other general corporate purposes.

The Notes are being offered exclusively to persons resident in a Canadian province through a syndicate of agents led by BMO Capital Markets, CIBC Capital Markets and TD Securities Inc. on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities laws in those provinces. The Notes have not been qualified for sale to the public under such securities laws.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities of Toromont in any jurisdiction, and is not an offer for sale within the United States of any securities of Toromont. Securities of Toromont, including any debt securities, may not be offered or sold in the United States absent registration under U.S. securities laws or unless exempt from registration under such laws. The offering described in this news release is not being made in the United States and has not been and will not be registered under U.S. securities laws. Accordingly, the Notes may not be offered or sold in the United States except in certain transactions exempt from the registration requirements under applicable U.S. securities laws.

ABOUT TOROMONT

Toromont operates through two business segments: the Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory, spanning the Canadian provinces of Newfoundland and Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario and Manitoba, in addition to most of the territory of Nunavut. The Equipment Group includes industry-leading rental operations and a complementary material handling business. CIMCO is one of North America's leading suppliers of thermal management solutions that enable customers to reduce energy consumption and emissions, use natural refrigerants and monitor and control their operating environments autonomously. Both segments offer comprehensive product support capabilities. This press release and more information about Toromont Industries Ltd. can be found at www.toromont.com.

For more information contact:

Toromont Industries Ltd.
John M. Doolittle
Executive Vice President and Chief Financial Officer
T: (416) 514-4790

SOURCE Toromont Industries Ltd.