Science & Technology
Science and Technology
Science and Technology
Tue, June 23, 2009
Mon, June 22, 2009
Saputo Inc.: Saputo Inc. Completes the Issuance of Senior Notes
MONTREAL, QUEBEC--(Marketwire - June 22, 2009) - Saputo inc. (TSX:SAP) completed today a debt financing in the form of a private placement of CDN$330 million to three institutional investors in the United States. $110 million of Canadian denominated unsecured Series A Senior Notes were issued at an interest rate of 5.34% for a term of five years ending June 22, 2014, and $220 million of Canadian denominated unsecured Series B Senior Notes were issued at an interest rate of 5.82% for a term of seven years ending on June 22, 2016. The proceeds of the private placement will be used to pay down part of the Company's existing credit facilities and for general corporate purposes. The senior notes have not been registered with the United States' Securities and Exchange Commission or any state governmental authority. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the senior notes.
About Saputo
Saputo produces, markets and distributes a wide array of products of the utmost quality, including cheese, fluid milk, yogurt, dairy ingredients and snack-cakes. Saputo is the 11th largest dairy processor in the world, the largest in Canada, the third largest in Argentina, among the top 3 cheese producers in the United States and the largest snack-cake manufacturer in Canada. Our products are sold in more than 40 countries under well-known brand names such as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland, Danscorella, De Lucia, Dragone, DuVillage 1860, Frigo Cheese Heads, Kingsey, La Paulina, Neilson, Nutrilait, Ricrem, Stella, Treasure Cave, HOP&GO!, Rondeau and Vachon. Saputo is a publicly traded company whose shares are listed on the Toronto Stock Exchange under the symbol SAP.
