SunOpta plans to repay term loans via new notes, revolver borrowings

By Marisa Wong

Morgantown, W.Va., April 12 – SunOpta Inc. intends to repay in full the term loans outstanding under its second-lien loan agreement dated Oct. 9, 2015 using proceeds from an upcoming notes offering, according to a press release.

The company will also use borrowings under its senior secured asset-based revolving credit facility to pay down the term loans.

The term loans were borrowed for SunOpta’s acquisition of Sunrise Holdings (Delaware), Inc., the parent company of Sunrise Growers, Inc.

The company announced on Tuesday that it plans to issue about $300 million of senior secured second-lien notes due 2023 in the near future.

SunOpta is a Toronto-based company focused on organic, non-genetically modified and specialty foods.

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