AGT Food and Ingredients Inc.’s $200 Million Senior Notes Offering

Cassels Brock represented AGT on the transaction

The notes bear interest at an annual rate of 5.875% and were sold at a price of 100.0% of principal for gross proceeds of $200 million.

The offering was completed by a syndicate of underwriters led by Scotia Capital Inc., CIBC World Markets Inc., and National Bank Financial Inc., and include Cormark Securities Inc., GMP Securities L.P., AltaCorp Capital Inc., BMO Nesbitt Burns Inc., Raymond James Ltd., RBC Dominion Securities Inc. and TD Securities Inc., by way of a private placement.

AGT intends to apply the net proceeds of the offering to the early redemption in full of AGT’s currently outstanding 9% senior secured second lien notes due 2018 and to the repayment of indebtedness under certain credit facilities, including certain revolving credit indebtedness, which will be available for future reborrowings that may be used for general corporate purposes.

Cassels Brock represented AGT with a team comprised of Kenton Rein (Financial Services), Jeffrey Roy, Alex Iliopoulos, Adria Leung Lim and James Lyle (Business), Suhuyini Abudulai and Carla Potter (Financial Services) and James Morand (Tax).

Involved fees earner: Kenton Rein – Cassels Brock & Blackwell LLP; Jeffrey Roy – Cassels Brock & Blackwell LLP; Adria Leung Lim – Cassels Brock & Blackwell LLP; Alexandra Iliopoulos – Cassels Brock & Blackwell LLP; James Lyle – Cassels Brock & Blackwell LLP; Suhuyini Abudulai – Cassels Brock & Blackwell LLP; Carla Potter – Cassels Brock & Blackwell LLP; James Morand – Cassels Brock & Blackwell LLP;

Law Firms: Cassels Brock & Blackwell LLP;

Clients: AGT Food and Ingredients Inc.;

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Author: Ambrogio Visconti