Tervita Corporation announced that it has commenced a private offering of USD 500.0 million aggregate principal amount of senior second lien secured notes due 2025, subject to market and other conditions. The Company intends to use the net proceeds of the Offering, if completed, together with a combination of cash on hand and available borrowings under its revolving credit facility, to repurchase or redeem any and all of its USD 590 million aggregate principal amount of 7.625% senior secured notes due 2021 pursuant to the Company's concurrent cash tender offer for the Existing Notes. This announcement does not constitute an offer to purchase or the solicitation of an offer to sell the Existing Notes. Concurrent with the commencement of the Offering and pursuant to the indenture governing the Existing Notes, Tervita has issued a conditional notice to redeem any Existing Notes outstanding on December 9, 2020 at a redemption price of 100.000% of the principal amount redeemed plus accrued and unpaid interest thereon to, but not including, the Redemption Date. Redemption of the Existing Notes is conditional upon certain conditions, including the successful completion of the Offering. Nothing contained in this release constitutes a notice of redemption of the Existing Notes.