Mullen Group Ltd. announced a private placement of senior secured notes for the gross proceeds of CAD 400 million on June 7, 2024. The senior secured notes will mature on July 10, 2034, and are comprised of aggregate principal amounts of $75 million with a yield of 6.50% per annum and CAD 300 million with a yield of 5.93% per annum. Interest on the Notes will accrue from the date of issue and be payable semi-annually in arrears on June 7 and December 7, beginning on December 7, 2024.

The transaction is expected to close on July 10, 2024, subject to the satisfaction of customary closing conditions. The Notes have been offered only in a private placement to institutional accredited investors in reliance on Section 4(a)(2) under the Securities Act of 1933, as amended (the ?Securities Act?).