Viterra gets C$400 million credit facility

By Sara Rosenberg

New York, May 15 - Viterra Inc. closed on a new C$400 million five-year term credit facility, according to a news release.

TD Securities acted as bookrunner on the deal, and TD and GE Capital Markets acted as co-lead arrangers.

Based upon the company's current credit ratings, the interest rate on the facility is at 6.3% on Canadian dollar borrowings and 6.5% on U.S. dollar borrowings, with minimum mandatory repayments of 4% per annum.

The transaction was oversubscribed and includes 11 banks in the syndicate.

Upon closing, the company received C$300 million in proceeds from the facility and about C$232.5 million of this amount was used to fully repay its bridge loan.

The remaining C$100 million of the credit facility can be drawn by the company during the next six months for general corporate purposes, including the funding of potential future acquisitions.

Viterra is a Regina, Saskatchewan-based agri-business.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.