Alliance Grain Traders subsidiary gets C$270 million credit facilities

By Angela McDaniels

Tacoma, Wash., Jan. 24 - Alliance Grain Traders Inc. subsidiary Alliance Pulse Processors Inc. has entered into C$270 million of senior secured credit facilities due Jan. 24, 2016, according to a company news release.

The facilities have a C$30 million accordion feature and may be extended for one-year periods with the consent of lenders.

Scotia Capital acted as lead arranger and bookrunner, and Bank of Nova Scotia is the administration agent. The other lenders are HSBC Bank Canada, Canadian Imperial Bank of Commerce, Farm Credit Canada, Alberta Treasury Branches, Export Development Canada and Icici Bank Canada.

The credit facilities will be used for general corporate purposes as well as to consolidate Alliance Pulse Processors' existing bank credit facilities and contain financing tranches that may be used for future permitted acquisitions and capital expenditures.

The credit facilities are guaranteed by Alliance Grain Traders and some of its direct and indirect wholly owned subsidiaries.

Alliance Grain Traders is a pulse, staple food and ingredient processor based in Regina, Sask.

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