ALGOMA CENTRAL CORPORATION Announces Closing of Bought Deal Financing

About this update from Algoma Central Corporation

[{"type":"text","content":"\n\n\n Apr. 6, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES./\n\n\nTORONTO, April 6 /CNW/ - Algoma Central Corporation ("Algoma") (TSX:ALC) is pleased to announce the closing of its previously\n announced offering of $60,000,000 aggregate principal amount of 6.0%\n convertible unsecured subordinated debentures (the "Debentures") at a price of $1,000 per Debenture on a bought deal basis to a\n syndicate of underwriters co-led by TD Securities Inc. and CIBC, and\n including Scotia Capital Inc., HSBC Securities (Canada) Inc. and\n Laurentian Bank Securities Inc. (the "Underwriters"). Algoma has also granted the Underwriters an over-allotment option to\n purchase up to an additional $9,000,000 aggregate principal amount of\n Debentures at the same price exercisable in whole or in part at any\n time for a period of 30 days following closing.\n\n\nThe Debentures will trade on the Toronto Stock Exchange under the symbol\n "ALC.DB".\n\n\nThe Debentures will mature on March 31, 2018 and will bear interest at\n an annual rate of 6.0% payable semi-annually on March 31 and September\n 30 in each year, commencing September 30, 2011. At the holder's option,\n the Debentures may be converted into common shares of Algoma ("Shares") at any time prior to the close of business on the earlier of March\n 31, 2018 and the business day immediately preceding...

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