04:44 PM EST, 03/05/2025 (MT Newswires) -- Premium Brands Holdings ( PRBZF ) after trade on Wednesday said it is raising $150 million in a bought-deal offering of unsecured debentures.

The debentures carry a 5.5% interest rate and mature in March, 2030.

The underwriters have been granted an over-allotment option to purchase up to an additional $22.5 million of debenture, which, if exercised in full, will yield total proceeds to $172.5 million.

Proceeds will be used to redeem in full Premium Brands' ( PRBZF ) $172.5 million of 4.65% convertible debentures, due April 30, 2025.

Premium Brands ( PRBZF ) closed up $2.65 to $78.84 on the Toronto Stock Exchange.