Premium Brands ( (TSE:PBH) ) has issued an announcement.
Premium Brands Holdings Corporation announced the exercise of the over-allotment option related to its recent $150 million public offering of 5.50% convertible unsecured subordinated debentures. The additional $22.5 million raised will be used to temporarily reduce existing indebtedness under its revolving credit facility, thereby increasing available funds to partially pay off 4.65% convertible unsecured debentures due in April 2025. This move is expected to enhance the company’s financial flexibility and support its strategic financial management.
More about Premium Brands
Premium Brands Holdings Corporation is a leading producer, marketer, and distributor of branded specialty food products. The company operates a broad range of specialty food manufacturing and differentiated food distribution businesses across Canada, the United States, and Italy.
YTD Price Performance: -4.87%
Average Trading Volume: 70,944
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$3.42B
See more insights into PBH stock on TipRanks’ Stock Analysis page.