By Paul A. Harris
St. Louis, July 25 - Saskatchewan Wheat Pool Inc. priced a C$200 million issue of 10-year senior notes at par to yield 8½% on Wednesday, according to a market source.
The yield came 100 basis points higher than the wide end of the 7¼% to 7½% price talk.
The underwriters were TD Securities, RBC Dominion Securities Inc., Scotia Capital and Genuity Capital Markets.
Proceeds from the C$200 million senior notes will be used to repay bank debt.
The issuer is a publicly traded agribusiness based in Regina, Sask.
| Issuer: | Saskatchewan Wheat Pool Inc.
|
| Amount: | C$200 million
|
| Maturity: | Aug. 1, 2017
|
| Security description: | Senior notes
|
| Underwriters: | TD Securities, RBC Dominion Securities Inc., Scotia Capital, Genuity Capital Markets
|
| Coupon: | 8½%
|
| Price: | Par
|
| Yield: | 8½%
|
| Call protection: | Five years
|
| Trade date: | July 25
|
| Settlement date: | Aug. 1
|
| Price talk: | 7¼% to 7½%
|
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