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SWP Closes Canadian Share Offering
REGINA - Apr 5/06 - SNS -- The Saskatchewan Wheat Pool Inc. closed its CDN $50.25 million common share offering, realizing net proceeds of $48.24 million.
The common share offering (“Common Shares”) was sold on a 'bought deal' basis to a syndicate of underwriters led by TD Securities Inc. that also included Genuity Capital Markets and National Bank Financial Inc. The underwriters have an option to purchase 670,000 additional common shares at the issue price of $7.50 at any time up to 30 days after closing. The Pool now has 88,534,137 common shares outstanding.
The Pool intends to use the net proceeds from the Common Shares, together with the net proceeds from the $100 million note offering and working capital, to redeem $150 million of outstanding Senior Subordinated Notes due November 29, 2008.
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