BFI Canada Sells Shares to Pay Down Debt

BFI Canada has sold 8.5 million shares for a total of $80.75 million (Canadian). The company will use the funds will to pay a portion of its debt.

The shares were sold on a bought-deal basis through a syndicate of underwriters led by TD Securities, RBC Capital Markets and CIBC World Markets Inc. The underwriters have an option to purchase an additional 1.275 shares at a price of $9.50 (Canadian) per share.