Viterra Inc.

Viterra Inc.

May 04, 2010 18:02 ET

Viterra Announces Senior Note Offering

CALGARY, ALBERTA--(Marketwire - May 4, 2010) -


Viterra Inc. (TSX:VT)(ASX:VTA) ("Viterra" or "the Company") today announced that it has filed a preliminary short form prospectus for the offering in Canada of up to C$500 million of senior unsecured, notes ("Notes"). The Note offering ("the Offering") is being made through a syndicate of underwriters co-led by TD Securities Inc. and RBC Dominion Securities Inc. 

Viterra intends to use the net proceeds from the Offering to refinance approximately $380 million currently outstanding under its term loan facility and to refinance its $100 million of Series 2006-1 Notes, which pay 8% interest annually and mature in 2013. The Company will exercise its right to redeem the Series 2006-1 Notes at 102% of the principal amount of those Notes, plus accrued and unpaid interest to the date of redemption. 

The Offering is subject to customary regulatory approvals and closing conditions. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States to any person absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes in the United States.

Forward-Looking Information

This release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such statements. Important factors that could affect these statements include, without limitation, weather conditions; producer's decisions regarding total planted acreage, crop selection, and utilization levels of farm inputs such as fertilizers and pesticides; grain export levels; changes in government policy and transportation deregulation; world agricultural commodity prices and markets; currency risk; changes in competitive forces including pricing pressures; and global political and economic conditions, including grain subsidy actions of the United States and European Union.

About Viterra

Viterra Inc. provides premium quality ingredients to leading global food manufacturers. Headquartered in Canada, the global agribusiness has extensive operations across Western Canada, Australia, and New Zealand, with Adelaide, Australia as the base for Viterra's Southeast Asian operations. Our growing international presence also extends to operations in the United States, offices in Japan, Singapore, China and Switzerland. Driven by an entrepreneurial spirit, we operate in three distinct businesses: grain handling and marketing, agri-products, and value-added processing. Our expertise, close relationships with producers, and superior logistical assets allow the company to consistently meet the needs of the most discerning end-use customers, helping to fulfill the nutritional needs of people around the world.

Contact Information

  • Viterra Inc.
    Peter Flengeris
    Investor Relations and Corporate Affairs
    (306) 569-4810