04:22 PM EDT, 05/22/2025 (MT Newswires) -- Ag Growth International ( AGGZF ) Thursday afternoon said it upsized a previously announced debt offering to $85 million from $75 million.

The company said it will issue senior subordinated unsecured debentures on a bought deal basis, priced at $1,000 each. Ag Growth ( AGGZF ) has also granted underwriters a 30-day option to buy up to an additional $12.75 million in debentures. If fully exercised, the total proceeds would reach $97.75 million.

The proceeds will be used to repay existing debt under its operating credit lines, which can then be reused for general corporate needs, the company added.

The debentures carry a 7.5% annual interest rate, paid semi-annually starting December 31, and will mature on June 30, 2030, according to the statement.

The company's shares closed down $0.29 to $37.28 on the Toronto Stock Exchange.