Saskatchewan Wheat Pool Inc.
TSX : SWP

Saskatchewan Wheat Pool Inc.

July 19, 2007 11:58 ET

Pool Announces $200 Million Senior Note Offering

REGINA, SASKATCHEWAN--(Marketwire - July 19, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Saskatchewan Wheat Pool Inc. (the "Pool") (TSX:SWP) has filed a preliminary short form prospectus for the offering in Canada of C$200 million of senior notes ("Notes").

The Note offering is being made through a syndicate of underwriters led by TD Securities Inc. that also includes RBC Dominion Securities Inc., Scotia Capital Inc. and Genuity Capital Markets.

On May 28, 2007, the Pool entered into a bridge credit facility (the "Bridge Facility") with The Toronto Dominion Bank ("TD") and GE Canada Finance Holding Company, providing for the borrowing of up to C$750 million, of which approximately $692 million is currently outstanding. The proceeds were used in part as a portion of the acquisition financing for the Agricore United ("AU") transaction, and in part to repay certain AU term debt existing at the time of the acquisition.

The Pool intends to use the net proceeds from the offering of Notes to repay a portion of the indebtedness outstanding under the Bridge Facility.

The Note 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.

Saskatchewan Wheat Pool Inc. is a publicly traded agribusiness headquartered in Regina, Saskatchewan. The Pool is Canada's leading agri-business, with extensive operations and distribution capabilities across western Canada, and with operations in the United States and Japan. The Pool is diversified into sales of crop inputs and services, grain handling and marketing, livestock production services, agri-food processing and financial services. These operations are complemented by value-added businesses and strategic alliances, which allow the Pool to leverage its pivotal position between Prairie farmers and destination customers. The Pool's common shares are listed on the Toronto Stock Exchange under the symbol SWP.

Contact Information

  • Saskatchewan Wheat Pool Inc.
    Colleen Vancha, Vice-President
    Investor Relations and Corporate Affairs
    (306) 569-4782
    Website: www.swp.com