Definition: In this task, a passage will be given and the goal is to identify an event from the passage. An event is defined as a single word representing something that happened, is happening, or may happen. An event can be factual or hypothetical, positive or negative, certain or uncertain. While most events are based on verbs, an event can also be based on a noun (ex. storm, snow, rainfall) or a copula verb (is, was, been, etc.). The event must not be a pronoun or an adjective. For noun events with multiple words, use the last word in the phrase as event.
Input: Passage: John Labatt Ltd. said it plans a private placement of 150 million Canadian dollars (US$127.5 million) in preferred shares, to be completed around Nov. 1. Proceeds will be used to reduce short-term debt at the beer and food concern, said Robert Vaux, vice president, finance.

plans