Viterra Inc. has entered into an agreement with a syndicate of agents to sell $300 million of 8.5 percent senior notes due July 7, 2014.
The offering will be issued in Canada and is also available in the United States under certain conditions. It is scheduled to close on or about July 7.
The syndicate of agents is led by TD Securities Inc. and includes Scotia Capital, RBC Capital Markets, J.P. Morgan Securities Canada, CIBC World Markets, National Bank Financial, and HSBC Securities (Canada).
Proceeds will be used for general corporate purposes.
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“We are mindful that we must move quickly when the capital markets are open and receptive,” president and chief executive officer Mayo Schmidt said in a news release.
“While we do not require capital immediately, we do see a number of smaller strategic opportunities on the horizon that we believe will provide solid returns for our stakeholders.”
In separate announcements, Viterra said it was informed that the Australian Foreign Investment Review Board had no objections to the proposed merger with ABB Grain Ltd. and that it has completed its deal to buy Associated Proteins canola crushing plant in Ste. Agathe, Man.
