Alliance Grain Traders Inc. (“AGT”) (TSX: AGT) completed its offering of $125 million in aggregate principal amount of senior secured second lien notes (the “Notes”). The Notes are due February 14, 2018, and bear interest at an annual rate of 9 per cent. The Notes were offered in all provinces of Canada and in the United States by a syndicate of underwriters led by Scotia Capital Inc., CIBC World Markets Inc. and GMP Securities L.P., and including AltaCorp Capital Inc. and Canaccord Genuity Corp. (collectively, the “Underwriters”), by way of a private placement under applicable securities laws.
AGT is a value-added pulse, staple food and ingredient processor for export and domestic markets. Through its offices and processing facilities located in some of the best agricultural growing regions in Canada, the US, Turkey, China, Australia and South Africa, merchandising and sales offices in the UK, the Netherlands and Spain and origination offices in Russia, AGT produces a full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed as well as food ingredients such as pulse flours, proteins, starches and fibres. Through its subsidiaries in Turkey, the Arbel Group, AGT also produces staple foods such as Arbella Pasta, rice, and milled wheat products, including bulgur and semolina.
AGT was represented by Stikeman Elliott LLP, with a team comprising Donald Belovich, D'Arcy Nordick, Ruth Elnekave, Colin Burn and Daniel Howard (corporate & securities); Jill Winton (tax) and James Klein (real estate).
The Underwriters were represented by Blake, Cassels & Graydon LLP with a team comprising Tim Andison, Michael Hickey and Faye Ghadiani (corporate & securities); Warren Nishimura and Charles McRoberts (banking); Garth Anderson (real estate) and Jeffrey Trossman and Josh Jones (tax).