Premium Brands completes C$100 million financing of 4.60% convertible unsecured subordinated debentures

Torys acted as counsel to the underwriters co-led by CIBC Capital Markets, BMO Capital Markets and National Bank Financial with a team that included Karrin Powys-Lybbe, Robbie Leibel and Emily Debono (Canadian corporate/securities), Andy Beck (U.S. securities) and Richard Johnson (tax).

On December 5, 2016, Premium Brands Holdings Corporation ("Premium Brands") announced the successful closing of the issue and sale of C$100 million of 4.60% convertible unsecured subordinated debentures at a price of C$1,000 per debenture. The debentures were offered to the public through a syndicate of underwriters co-led by CIBC Capital Markets, BMO Capital Markets and National Bank Financial Inc., and which included Scotia Capital Inc., TD Securities Inc., Cormark Securities Inc., Canaccord Genuity Corp. and PI Financial Corp. Premium Brands has granted to the underwriters an over-allotment option to purchase up to an additional C$15 million aggregate principal amount of debentures, on the same terms, exercisable in whole or in part at any time for a period of up to 30 days following closing of the offering.

Premium Brands intends to use the net proceeds of the offering to reduce indebtedness, for future acquisitions and to fund capital projects.

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, Ohio, Arizona and Washington State.

Further information can be found on Canada Newswire's website.