MISSISSAUGA, ON, June 30, 2025 /CNW/ - Cargojet Inc. ("Cargojet" or the "Corporation") (TSX: CJT) is pleased to announce the successful closing of its previously announced offering (the "Offering") of $250 million aggregate principal amount of 4.599% senior unsecured notes due 2030 (the "Notes"). The net proceeds from the Offering are expected to be used to redeem in full the Corporation's 5.25% listed senior unsecured hybrid debentures due June 30, 2026 prior to the end of 2025, repay indebtedness under Cargojet's credit facilities and for general corporate purposes. The Notes have been assigned a final rating of BBB (low), with a stable trend, by Morningstar DBRS.

Prior to completion of the Offering, Cargojet entered into a fourth amended and restated credit agreement to enact certain amendments to its existing revolving credit facility and term facility (the "Credit Facility"). The amendments included, among other things, the release of liens previously granted to the lenders, such that the borrowings under the Credit Facility are now unsecured obligations of the Corporation, and modifications to certain covenants to reflect an investment grade credit rating structure.

About Cargojet

Cargojet is Canada's leading provider of time sensitive premium air cargo services to all major cities across North America, providing dedicated, ACMI and international charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 cargo aircraft.

Notice on Forward-Looking Statements:

Certain statements contained herein constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans", "intends", "anticipates", "should", "estimates", "expects", "believes", "indicates", "targeting", "suggests" and similar expressions, and includes statements relating to, among other things, the use of proceeds of the Offering, the anticipated benefits of the Offering and the timing of the redemption of the Corporation's 5.25% listed senior unsecured hybrid debentures. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Reference should be made to the Corporation's most recent Annual Information Form filed with the Canadian securities regulators, and its most recent Consolidated Financial Statements and the notes thereto and related Management's Discussion and Analysis, for a summary of major risks. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Without limiting the foregoing, there can be no assurance that the Corporation will maintain an investment grade credit rating or improve its cost of capital on favourable terms. The forward-looking statements contained in this news release represent Cargojet's expectations as of the date of this news release and are subject to change after such date. However, Cargojet disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities laws. In the event Cargojet does update any forward-looking statement, no inference should be made that Cargojet will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

SOURCE Cargojet Inc.

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