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Saskatchewan Wheat Pool talks C$200 million 10-year notes at 7¼%-7½%
By Paul A. Harris
St. Louis, July 19 - Saskatchewan Wheat Pool Inc. has set price talk for its C$200 million offering of 10-year senior notes at 7¼% to 7½%, an informed source told Prospect News on Thursday.
The offering, via underwriters TD Securities, RBC Dominion Securities Inc., Scotia Capital and Genuity Capital Markets, is expected to price on Wednesday.
On May 28 the pool entered into a bridge loan with The Toronto Dominion Bank and GE Canada Finance Holding Co., providing up to C$750 million, of which about C$692 million is outstanding.
Proceeds were used to fund a portion of the Agricore United (AU) acquisition and repay certain AU debt.
Proceeds from the C$200 million senior notes issue will be used to repay the bridge loan.
The prospective issuer is a publicly traded agribusiness based in Regina, Sask.
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