SunOpta retires its $223.5 million 9˝% second-lien notes due 2022

By Cady Vishniac

Detroit, Jan. 4 – SunOpta Inc. has retired all of its $223.5 million of 9˝% second-lien notes due October 2022 as of Dec. 31, according to a press release.

Retirement of the notes is predicted to reduce SunOpta’s interest payments by $21 million per year. Together with a new asset-based revolver and term loan facility and paying down of existing credit facility debt, the company’s debt is expected to decrease by approximately $355 million. Annual interest is expected to decrease to approximately $4 million from approximately $29 million.

SunOpta is a Toronto-based company focused on organic, natural and non-GMO food products.

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