- Premium Brands Holdings Corporation (PBH) will issue $150,000,000 of convertible unsecured subordinated debentures at a price of $1,000 per debenture
- Net proceeds will be used to pay down debt and for general corporate purposes
- The offering is expected to close on June 13, 2022
- Premium Brands owns specialty food manufacturing and food distribution businesses across Canada and the United States
- Premium Brands Holdings Corporation (PBH) opened trading at C$100.17
Premium Brands Holdings Corporation (PBH) will issue $150,000,000 of convertible unsecured debentures for $1,000 per debenture.
The offering is being co-led by National Bank Financial Inc., BMO Capital Markets, CIBC Capital Markets, and Scotiabank.
The company has granted the underwriters an over-allotment option to purchase up to $22,500,000 of debentures. If the over-allotment option is exercised in full, the total gross proceeds of the offering will be $172,500,000.
Net proceeds will be used to pay down debt and for general corporate purposes.
The debentures will bear 5.40 per cent interest per annum, payable on September 30 and March 31 each year, commencing March 31, 2023. The debentures will mature on September 30, 2029.
The debentures will be convertible into common shares at a conversion price of $160.25.
The offering is expected to close on June 13, 2022 and is subject to the approval of the Toronto Stock Exchange.
Premium Brands owns specialty food manufacturing and food distribution businesses across Canada and the United States.
Premium Brands Holdings Corporation (PBH) opened trading at C$100.17.