Saskatchewan Wheat Pool Inc.
TSX : SWP

Saskatchewan Wheat Pool Inc.

March 30, 2006 15:55 ET

Pool Files Final Short Form Prospectus for Note Offering

REGINA, SASKATCHEWAN--(CCNMatthews - March 30, 2006) -

FOR CANADIAN DISTRIBUTION ONLY

Saskatchewan Wheat Pool Inc. (the "Pool") (TSX:SWP) has filed the final short form prospectus for the offering in Canada of $100 million principal amount of senior unsecured notes (the "Notes") that mature on April 8, 2013. The note offering is being made through a syndicate of underwriters led by TD Securities Inc. that also includes RBC Dominion Securities Inc. and Genuity Capital Markets. The underwriters have advised the Pool that the Notes are available for immediate trading in the over-the-counter market.

The Notes will pay an annual interest rate of 8%, paid on a semi-annual basis.

The Pool intends to use the net proceeds from the note offering, along with the net proceeds from its concurrent $50.25 million common share offering and available working capital, to redeem its outstanding senior subordinated notes due November 29, 2008. Additional information about this redemption will be provided upon closing.

The transaction is expected to close on April 6, 2006. Both the note offering and the common share offering are subject to customary closing conditions.

The new 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. Anchored by a Prairie-wide grain handling and agri-products marketing network, the Pool channels Prairie production to end-use markets in North America and around the world. 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
    Colleen Vancha
    Vice-President, Investor Relations & Communications
    (306) 569-4782
    Website: www.swp.com