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Cargojet Announces C$75 Million Bought Deal Offering of 5.75% Listed Senior Unsecured Hybrid Debentures
Cargojet Announces C$75 Million Bought Deal Offering of 5.75% Listed Senior Unsecured Hybr...
About this update from Cargojet Inc.
[{"type":"text","content":"\n\n\n\nCargojet Announces C$75 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, Oct. 17, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, Oct. 17, 2018 /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$75 million aggregate principal amount of listed senior unsecured hybrid debentures due April 30, 2024 (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$11.25 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 November 6, 2018. \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 to 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. 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 April 30, 2019. The April 30, 2019 interest payment will represent accrued interest from the closing of the Offering, to but excluding April 30, 2019. The Debentures will mature on April 30, 2024.\nThe Debentures will not be redeemable by the Corporation prior to April 30, 2022. On or after April 30, ...