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Cargojet Announces Closing of C$100 Million Bought Deal Offering of 5.75% Listed Senior Unsecured Hybrid Debentures Due April 2025
Cargojet Announces Closing of C$100 Million Bought Deal Offering of 5.75% Listed Senior Un...
About this update from Cargojet Inc.
[{"type":"text","content":"\n\n\n\nCargojet Announces Closing of C$100 Million Bought Deal Offering of 5.75% Listed Senior Unsecured Hybrid Debentures Due April 2025\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, April 16, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, April 16, 2019 /CNW/ - Cargojet Inc. (\"Cargojet\" or the \"Corporation\") (TSX: CJT, CJT.A) is pleased to announce that it has closed its previously announced offering of C$100 million aggregate principal amount of 5.75% listed senior unsecured hybrid debentures (the \"Debentures\") at a price of C$1,000 per Debenture (the \"Offering\"). The Debentures bear interest at a rate of 5.75% per annum, payable semi-annually in arrears on April 30 and October 31 of each year, commencing October 31, 2019, and will mature on April 30, 2025. \nThe Offering was made pursuant to a final short form prospectus dated April 9, 2019, and the Debentures will commence trading today on the Toronto Stock Exchange under the symbol \"CJT.DB.E\".\nThe Corporation intends to use the net proceeds of the Offering to pay down the Corporation's revolving credit facility that has been drawn to support engine and aircraft purchases, and to free up capacity to fund anticipated capital expenditures, including aircraft, in the future.\nThe Debentures were offered by a syndicate of underwriters co-led by RBC Capital Markets and CIBC Capital Markets. The Corporation has granted to the underwriters an over-allotment option, exercisable in whole or in part, at any time until 30 days following the closing of the Offering, to purchase up to an additional $15,000,000 aggregate principal amount of Debentures, on the same terms and conditions as the Offering.\nThe securities issued pursuant to the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of s...