Rogers Sugar closes $57.5-million debenture offering

Executive Summary

• Rogers Sugar Inc. completed a $57.5 million bought deal public offering of ninth series convertible unsecured subordinated debentures, including the full exercise of the underwriters' over-allotment option.
• The debentures were priced at $1,000 each, with a conversion price of $7.91 per share and a maturity date of January 31, 2033.
• Net proceeds will be used to reduce amounts outstanding under the credit facility of subsidiary Lantic Inc. and for general corporate purposes.

Key Details

• Transaction Size: $57.5 million aggregate principal amount of debentures.
• Pricing: $1,000 per debenture.
• Underwriters: Co-led by BMO Capital Markets and National Bank Capital Markets; included TD Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., Desjardins Securities Inc., and RBC Dominion Securities Inc.
• Structure: Ninth series convertible unsecured subordinated debentures.
• Interest Rate: 5.50% per annum, payable semi-annually on January 31 and July 31, commencing July 31, 2026.
• Conversion Terms: Convertible at the holder's option into common shares at a rate of 126.4223 debenture shares per $1,000 principal amount.
• Conversion Price: $7.91 per debenture share.
• Maturity Date: January 31, 2033.
• Use of Proceeds: Reduce amounts outstanding under the credit facility of Lantic (a subsidiary) and for general corporate purposes.
• Trading: Debentures commenced trading on the Toronto Stock Exchange under the symbol RSI.DB.H.
• Regulatory Filings: Offered pursuant to a prospectus supplement dated Jan. 7, 2026, to the company's final short form base shelf prospectus dated Dec. 5, 2025.

Notable Quotes

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