AGI announces underwriters exercise over-allotment option

by Susan Reidy
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WINNIPEG, MANITOBA, CANADA – AGI announced underwriters of its 4.5% convertible unsecured subordinated debentures offering exercised their over-allotment option, allowing for an additional C$11.25 million aggregate principal amount of debentures. This brings the total offering to C$86.25 million.

The debentures have an interest rate of 4.5% per year, are convertible at the option of the holder into common shares of AGI at a conversion price of C$88.15 per share and have a maturity date of Dec. 31, 2022. The Debentures are listed for trading on the Toronto Stock Exchange under the symbol “AFN.DB.E.”

The net proceeds of the offering will be used to redeem AGI’s 5.25% convertible unsecured subordinated debentures due Dec. 31, with any excess net proceeds being used for general corporate purposes.

The underwriting syndicate was led by CIBC Capital Markets, National Bank Financial Inc. and TD Securities Inc., and included Scotia Capital Inc., RBC Dominion Securities Inc., Raymond James Ltd., BMO Nesbitt Burns Inc., AltaCorp Capital Inc. and Laurentian Bank Securities Inc.

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