With companies like United Grain Growers boosting their asset-backed commercial paper operations, securitizations done by Canadian grain companies are on the rise, according to sources close to the industry.

As for UGG, the company runs a two-part, dual conduit securitization program, unique to the grain growing markets. According to John Millen of Toronto Dominion Investments Ltd, UGG's $300 million securitization program is typical of a whole industry of "grain companies" selling into commercial paper facilities. TD Investments currently holds $10 billion in its farm receivables conduits.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.