09:49 AM EDT, 06/09/2025 (MT Newswires) -- Ag Growth International ( AGGZF ) on Monday said it closed the previously announced public offering of $85 million senior subordinated unsecured debentures.

The debentures were priced at $1,000 each and bear interest at 7.50% per annum, payable semi-annually in arrears on June 30 and December 31. The debentures are listed for trading on the Toronto Stock Exchange under the symbol "AFN.DB.K" and have a maturity date of June 30, 2030.

A company statement noted that a syndicate led by CIBC Capital Markets and including National Bank Financial, TD Securities Inc, Scotia Capital Inc, ATB Securities Inc, BMO Capital Markets, RBC Capital Markets, Desjardins Capital Markets, Raymond James and Cormark Securities Inc acted as underwriters for the offering.

The company stated that it granted the underwriters an over-allotment option, exercisable in whole or in part for a period expiring 30 days following closing of the offering, to buy up to an additional $12.75 million aggregate principal amount of debentures at the same price per debenture.

The company further added that the net proceeds of the offering will initially be used to repay indebtedness under its senior operating credit lines, which will then be available to be redrawn for general corporate purposes.

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