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Cargojet announces C$100 million bought deal offering of 5.75% listed senior unsecured hybrid debentures
Cargojet announces C$100 million bought deal offering of 5.75% listed senior unsecured hyb...
About this update from Cargojet Inc.
[{"type":"text","content":"\n\n\n\nCargojet announces C$100 million bought deal offering of 5.75% listed senior unsecured hybrid debentures\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, March 27, 2019\n\n\n\n /NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, March 27, 2019 /CNW/ - Cargojet Inc. (\"Cargojet\" or the \"Corporation\") (TSX: CJT, CJT.A) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets and CIBC Capital Markets under which the underwriters have agreed to purchase C$100 million aggregate principal amount of listed senior unsecured hybrid debentures due April 30, 2025 (the \"Debentures\") at a price of C$1,000 per Debenture (the \"Offering\"). Cargojet has also granted the underwriters an option to purchase up to an additional C$15 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, for a period of 30 days following closing of the Offering. The Offering is expected to close on or about April 16, 2019.\nThe Debentures will be direct, senior unsecured obligations of the Corporation and will rank subordinate to all existing and future senior secured and other secured indebtedness of the Corporation, and will rank pari passu with all existing and future senior unsecured, and other unsecured and unsubordinated indebtedness of the Corporation. The Debentures will rank senior to the Corporation's 4.65% convertible unsecured subordinated debentures due December 31, 2021 and pari passu with the Corporation's 5.75% listed senior unsecured hybrid debentures due April 30, 2024. The Debentures will bear interest at a rate of 5.75% per annum, payable semiannually in arrears on April 30 and October 31 of each year, with the first interest payment on October 31, 2019. The October 31, 2019 interest payment will represent accrued interest from the closing of the Offering, to but excluding October 31, 2019. The Debentures will mature on Apri...