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AGI Announces Closing of $85 Million Public Offering of Senior Subordinated Unsecured Debentures
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Ag Growth International Inc.
[{"type":"text","content":"AGI Announces Closing of $85 Million Public Offering of Senior Subordinated Unsecured Debentures\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n\n Ag Growth International Inc. (TSX: AFN) (\"AGI\" or the \"Company\") is pleased to announce that it has closed the previously announced public offering of $85 million aggregate principal amount of senior subordinated unsecured debentures (the “Debentures”) at a price of $1,000 per Debenture (collectively, the “Offering”). A syndicate led by CIBC Capital Markets and including National Bank Financial, TD Securities Inc., Scotia Capital Inc., ATB Securities Inc., BMO Capital Markets, RBC Capital Markets, Desjardins Capital Markets, Raymond James and Cormark Securities Inc. (collectively, the \"Underwriters\") acted as underwriters for the Offering.\n \n\n The Debentures bear interest at 7.50% per annum, payable semi-annually in arrears on June 30 and December 31 each year, commencing December 31, 2025. The Debentures have a maturity date of June 30, 2030, and are listed for trading on the Toronto Stock Exchange under the symbol \"AFN.DB.K\".\n \n\n AGI has granted the Underwriters an over-allotment option, exercisable in whole or in part for a period expiring 30 days following closing of the Offering, to purchase up to an additional $12.75 million\n \n\n aggregate principal amount of Debentures at the same price per Debenture.\n \n\n The net proceeds of the Offering will initially be used to repay indebtedness under the Company’s senior operating credit lines, which will then be available to be redrawn for general corporate purposes.\n \n\n\n AGI Company Profile\n \n\n AGI is a provider of the physical equipment and digital technology solutions required to support global food infrastructure including grain, fertilizer, seed, feed, and food processing systems. AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, India, France, and Italy and distributes its product globally.\n \n\n This press release is not an offer of Debentures for sale in the United States. The Debentures may not be offered or sold in the United States absent registrat...