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G3 announces completion of CAD $900 million in new credit facilities

WINNIPEG, June 15, 2018 (CNW) – G3 Global Holdings Limited Partnership (the “Company”), a joint venture between Saudi Agricultural & Livestock Investment Company, a joint stock company formed under the laws of the Kingdom of Saudi Arabia (“SALIC”) and Bunge Limited, a leading global agribusiness and food company (“Bunge”), announced today that the Company and its subsidiary, G3 Terminal Vancouver Limited Partnership (“G3 Terminal Vancouver”), have each entered into a 5 year delayed draw credit facility (“Facilities”) for an aggregate principal amount of CAD $900 million. The Facilities may be increased by an additional CAD $200 million, in aggregate. 

The proceeds of the loans under the Facilities will be used to support and fund the on-going growth of G3’s network in Western Canada, including the development of new primary elevators by G3 Canada Limited and the construction and operation of G3 Terminal Vancouver’s state-of-the-art grain export terminal in North Vancouver, British Columbia, previously announced by G3 Terminal Vancouver in 2016.

“This transaction is a testament to the strategic vision of G3 and its shareholders” said Don Chapman, the Company’s CEO.  “We remain on-track in our construction efforts, and finalizing this funding is yet another important milestone in realizing our overall vision.”

Sumitomo Mitsui Banking Corporation (“SMBC”), HSBC Bank Canada and Natixis, New York Branch acted as joint lead arrangers, and SMBC will act as the sole Administrative Agent for each Facility.  

About G3 Global Holdings Limited Partnership

G3 Global Holdings Limited Partnership is a limited partnership between SALIC Canada Limited and Bunge Canada, respective wholly owned subsidiaries of each of SALIC and Bunge.  Its holdings include G3 Global Grain Group Limited, the parent company of G3 Canada Limited, and G3 Terminal Vancouver Limited Partnership. 

About G3 Terminal Vancouver Limited Partnership

G3 Terminal Vancouver Limited Partnership is a limited partnership between G3 Global Holdings Limited Partnership and Western Stevedoring Company Limited.  G3 Terminal Vancouver Limited Partnership is currently constructing a state-of-the-art grain export terminal in North Vancouver, British Columbia.  The terminal is expected to receive its first grain in 2019, and be fully operational in 2020.

About G3 Canada Limited 

G3 Canada Limited is a Canadian grain origination and trading company. G3 Canada Limited is establishing a highly efficient coast-to-coast Canadian grain enterprise designed to provide a unique competitive alternative to farmers and superior service to customers and stakeholders. G3 Canada Limited's assets include primary grain elevators and port terminals stretching from Leader, Saskatchewan to Québec City, Québec, a Great Lakes grain transport vessel, and the largest private fleet of grain hopper cars in Canada. The vertical integration of these assets along the agricultural commodity chain forms the basis of a smarter path from farmers’ fields to global markets. G3 Canada Limited is a Canadian company and is headquartered in Winnipeg, Manitoba.

For further information:

G3 Media Relations, 1-204-983-3101, mediarelations@g3.ca June 15, 2018