Viterra Inc.

Viterra Inc.

May 17, 2010 15:57 ET

Viterra Completes Global Financing Facility

CALGARY, ALBERTA--(Marketwire - May 17, 2010) - Viterra Inc. (TSX:VT)(ASX:VTA) today confirmed that it has entered into a credit agreement for a C$1.6 billion revolving credit facility through a syndicate of financing institutions led by TD Securities and RBC Capital Markets and co-arranged by Commonwealth Bank of Australia, HSBC Bank and Rabobank Nederland, Canadian Branch. All conditions precedent to the effectiveness of the agreement have been satisfied and the agreement will become effective at 12:01am EST on May 18, 2010.

The three year unsecured operating line, which replaces previous lines of credit that were in place in Canada and Australia, will provide the necessary funding to support the Company's global working capital requirements. 

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