Winnipeg, MB, May 9, 2022 – Ag Growth International Inc. (TSX: AFN) (“AGI” or the “Company”) is pleased to announce the upsizing and amendment of our revolving credit facilities.
AGI’s revolving credit facilities have been increased by approximately $150 million Canadian dollar equivalent. As part of the agreement, the Series B and C Notes, with a principal amount owing of approximately $57 million Canadian dollar equivalent, will be concurrently retired through the expanded credit facilities. AGI’s revolving credit facilities now totals approximately $694 million in Canadian dollar equivalent. In addition, several amendments to the terms of the agreement were processed to increase the support the facilities provide to AGI, particularly in areas outside of North America.
“While we will continue to carefully manage our overall balance sheet and leverage position, the timing was right to revisit our credit facility to ensure it aligns with AGI’s needs given the substantial geographic expansion we’ve achieved over recent years,” commented Tim Close, President and CEO of AGI. “I’d like to thank our long-time syndicate members for their continued support and extend a welcome to our new partners joining the group. We look forward to working with the entire team as we continue building out AGI across the globe.”
Further information can be found in disclosure documents filed with securities regulatory authorities and are available at www.sedar.com.
AGI is a provider of the physical equipment and digital technology solutions required to support global food infrastructure including grain, fertilizer, seed, feed, and food processing systems. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its product globally.
For More Information Contact:
Director, Investor Relations