Alliance Grain Traders talks C$125 million five-year notes at 8¾% area

By Cristal Cody

Prospect News, Feb. 6 - Alliance Grain Traders Inc. set talk on a C$125 million offering of five-year senior secured second-lien notes (/B/DBRS: B) in the 8¾% yield area, according to syndicate sources on Wednesday.

The Rule 144A and Regulation S-eligible issue is expected to price on Thursday following a roadshow in Canada.

Scotia Capital Inc., CIBC World Markets Inc. and GMP Securities LP are the lead managers. Co-managers are AltaCorp Capital Inc. and Canaccord Genuity Corp.

The notes are non-callable for three years. The issue has a 101% change-of-control put.

Proceeds will be used to refinance existing debt.

The pulse and staple food processor and distributor is based in Regina, Sask.

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