Canadian food group Maple Leaf Foods has set out plans for a programme to refinance C$355m (US$352.7m) of debt.

The bakery and meat processor has issued – or is set to issue – C$355m of notes in a series of tranches in Canadian and US dollars.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

A portion of the proceeds were received yesterday (16 December). Maple Leaf said the remainder would be received by 4 January. Maturities range from 2015 to 2021.

“This debt refinancing extends the maturity profile of the company’s debt at investment grade financing rates,” said Maple Leaf CFO Michael Vels. “This refinancing reflects the quality of our balance sheet and allows us to fund our strategic initiatives at competitive financing rates.”

Maple Leaf also announced that former investor The Ontario Teachers Pension Plan had completed plans to sell its stake in the business. Teachers said last month that it wanted to sell its 25.2% stake in Maple Leaf.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now