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AGI Announces Increase to Previously Announced Offering of Senior Subordinated Unsecured Debentures to $85 Million
Globenewswire· 2025-05-22 18:18
Core Viewpoint - Ag Growth International Inc. (AGI) has announced a revised agreement to increase the size of its offering of senior subordinated unsecured debentures to $85 million due to strong demand [1][2]. Group 1: Offering Details - The offering will consist of $85 million aggregate principal amount of debentures priced at $1,000 each, with an over-allotment option allowing for an additional $12.75 million, potentially bringing total gross proceeds to $97.75 million if fully exercised [1][2]. - The closing of the offering is expected around June 9, 2025, subject to regulatory approvals [4]. - The debentures will bear an interest rate of 7.50% per annum, payable semi-annually, with a maturity date of June 30, 2030 [5]. Group 2: Use of Proceeds - The net proceeds from the offering are intended to repay existing indebtedness under the company's senior operating credit lines, which will then be available for general corporate purposes [3]. Group 3: Redemption and Payment Options - The debentures are not redeemable before June 30, 2028, except in the event of a change of control [6]. - Upon redemption or maturity, the company may choose to satisfy its obligation by issuing common shares instead of cash [7]. - The debentures will not be convertible into common shares at the option of the holders [8]. Group 4: Company Profile - AGI is a provider of equipment and solutions for the efficient storage, transport, and processing of food globally, with manufacturing facilities in multiple countries including Canada, the U.S., Brazil, India, France, and Italy [9].
Fiera Capital Corporation announces $60 million bought deal offering of 7.75% Senior Subordinated Unsecured Debentures
Globenewswire· 2025-05-14 13:30
Core Viewpoint - Fiera Capital Corporation has announced an agreement to issue $60 million in senior subordinated unsecured debentures, with an option for an additional $9 million, to fund the redemption of existing debentures and for general corporate purposes [1][5]. Group 1: Offering Details - The debentures will have a principal amount of $1,000 each and will bear an interest rate of 7.75% per annum, payable semi-annually [2][5]. - The offering is expected to close around June 3, 2025, and the first interest payment will be made on December 31, 2025 [1][2]. Group 2: Redemption Terms - The debentures are not redeemable before June 30, 2028, except in the event of a change of control [3]. - After the first call date, the debentures can be redeemed at a price of 103.875% of the principal amount plus accrued interest until June 30, 2029, after which they can be redeemed at par plus accrued interest [3]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to redeem the Company's existing 8.25% senior subordinated unsecured debentures due December 31, 2026, and for general corporate purposes [5]. Group 4: Legal and Regulatory - A preliminary short form prospectus will be filed with securities regulatory authorities in Canada, and the offering is subject to customary regulatory approvals [7]. - The securities will not be registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an exemption [8]. Group 5: Company Overview - Fiera Capital is an independent asset management firm with a global presence, providing customized solutions across various asset classes to institutional and private wealth clients [12]. - The company is headquartered in Montreal and has offices in major cities worldwide, including New York, London, Hong Kong, and Abu Dhabi [13].