Premium Brands Holdings completes C$57.5 million convertible unsecured subordinated debentures financing

On January 13, 2011, Premium Brands Holdings Corporation (TSX: PBH) announced the closing of the issue and sale of C$57.5 million aggregate principal amount of 5.75% convertible unsecured subordinated debentures (the debentures) at a price of C$1,000 per debenture (the offering).

The debentures were a public offering through a syndicate of underwriters which was co-led by National Bank Financial Inc. and Scotia Capital Inc. (the underwriters). The amount of the offering included C$7.5 million of debentures issued pursuant to an over-allotment option that was granted to the underwriters and exercised at the closing of the offering. The debentures will bear interest from the date of issue at 5.75% per annum, payable semi-annually in arrears on June 30 and December 31 of each year commencing June 30, 2011 and have a maturity date of December 31, 2015.

The debentures are now traded on the TSX under the symbol "PBH.DB.A."

Premium Brands intends to use the net proceeds from the offering for reducing indebtedness, future acquisitions, capital expenditures and general corporate purposes.

Further information is found on Premium Brands' website.

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