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Boyd Group Income Fund Announces Redemption of Convertible Debentures due October 31, 2021
Boyd Group Income Fund Announces Redemption of Convertible Debentures due October 31, 2021...
About this update from Boyd Group Services Inc
[{"type":"text","content":"\n\n\n\nBoyd Group Income Fund Announces Redemption of Convertible Debentures due October 31, 2021\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, Sept. 6, 2017\n\n\n\nWINNIPEG, Sept. 6, 2017 /CNW/ - Boyd Group Income Fund (TSX: BYD.UN) (\"the Fund\") announced today that on November 2, 2017 (the \"Redemption Date\") it intends to redeem in full all of its then outstanding 5.25% Convertible Unsecured Subordinated Debentures due October 31, 2021 (the \"Debentures\") in accordance with the provisions of the trust indenture dated as of September 29, 2014 (the \"Indenture\"). \n\nThe redemption price for the Debentures (\"Redemption Price\") shall be 100% of the aggregate outstanding principal amount together with accrued and unpaid interest up to, but excluding, the Redemption Date. In accordance with the Indenture, the Fund has elected to satisfy its obligation to pay the portion of the Redemption Price equal to the outstanding principal amount of the Debentures by issuing to Debenture holders (\"Holders\") freely tradeable trust units of the Fund (\"Units\"). The number of Units delivered will be determined by dividing that portion of the Redemption Price equal to the outstanding principal amount of the Debentures by 95% of the then Current Market Price of the Units. The Fund will pay cash both for the accrued and unpaid interest, up to but excluding the Redemption Date, on the Debentures and in lieu of any fractional Units that would otherwise be issued.\n\nHolders have the right, by notice given to the Trustee within 30 days of receipt of the Redemption Notice, to elect to convert the Debentures into Units at the Conversion Price, such conversion to be effective on the Business Day immediately preceding the Redemption Date.\n\nCapitalized terms used above and not defined herein shall have the meaning ascribed to them in the Indenture.  \n\nAbout Boyd Group Income FundThe Boyd Group Income Fund is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including a m...