Viterra expands global revolving credit facility

by World Grain Staff
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CALGARY, ALBERTA, CANADA — Viterra Inc. announced on Sept. 26 that it has signed an agreement with its banking syndicate to increase the company's unsecured global credit facility from C$1.6 billion to C$2.1 billion with reduced borrowing costs and improved terms.

Through the agreement, the maturity date has also been extended by an additional two years to Sept. 26, 2015. TD Securities and RBC Capital Markets acted as joint bookrunners and lead arrangers along with Commonwealth Bank of Australia, HSBC Bank and Rabobank Nederland, Canadian Branch acting as co-lead arrangers.

"We moved opportunistically to take advantage of our strong financial position and banking relationships. This action is consistent with our focus on cost efficiencies and improving our return on assets as we grow our business platform," said Rex McLennan, Viterra's chief financial officer.
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