METRO INC. announced the pricing of a private placement offering of CAD 300 million aggregate principal amount of 1.922% Series J Senior Unsecured Notes due December 2, 2024 (the Series J Notes). The Series J Notes will carry a coupon of 1.922% and were priced at $1,000 per $1,000 principal amount, for an effective yield of 1.922% per annum if held to maturity. Metro intends to use the proceeds of the offering for the repayment of the Series C senior unsecured notes due December 1, 2021 and for general corporate purposes. In conjunction with this offering, Metro entered into a CAD 300 million interest rate swap effectively locking in a floating rate of interest of 11 basis points (0.11%) over the 3-month bankers' acceptance rate (CDOR) over the life of the Series J Notes. The Series J Notes will be direct unsecured obligations of Metro and will rank pari passu with all other unsecured and unsubordinated indebtedness of Metro. The Series J Notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation and have been assigned provisional ratings BBB, with a stable trend, by DBRS Limited, and BBB by Standard & Poor's Ratings Services. Closing of the offering is expected to take place on November 30, 2021.