Viterra Securs Credit Line

REGINA, SASKATCHEWAN -- Viterra Inc. successfully completed a $400 million, five-year term credit facility, underwritten by TD Securities, with GE Corporate Lending Canada and GE Capital Markets acting as co-lead arrangers. The transaction was oversubscribed and includes eleven banks in the syndicate.

Upon closing, Viterra received $300 million in proceeds from the facility and approximately $232.5 million of this amount was used to fully repay the remaining outstanding amounts on its bridge facility. The remaining $100 million of the credit facility can be drawn by the Company during the next six months.

The balance of the proceeds will be used for general corporate purposes, including the funding of potential future acquisitions. Based upon Viterra’s current credit ratings, the rate of interest on the facility is at approximately 6.3% on Canadian dollar borrowings and approximately 6.5% on US dollar borrowings, with minimum mandatory repayments of 4% per annum.