Pacific Coast Canola, a subsidiary of Legumex Walker, and the first and only commercial-scale canola oilseed processing facility west of the Rocky Mountains, has entered into agreements with Macquarie Bank Ltd. that will provide the company with up to US$45 million in additional liquidity. Under the agreements the company will receive a three-year US$10 million borrowing facility for working capital purposes at market interest rates with annual renewals, a US$15 million hedging line to allow Pacific Coast to enter into forward purchase and sales contracts while being protected from commodity price volatility, and up to US$20 million for physical grain purchase transactions for canola seed. The additional liquidity will help Pacific Coast to leverage their production capacity and to meet the high demand they are seeing for canola oil and meal.
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