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Cargojet Announces Closing of Over-Allotment Option for Additional Proceeds of C$15 Million in Connection with Recently Completed Bought Deal Offering of 5.25% Listed Senior Unsecured Hybrid Debentures
Cargojet Announces Closing of Over-Allotment Option for Additional Proceeds of C$15 Millio...
About this update from Cargojet Inc.
[{"type":"text","content":"\n\n\n\nCargojet Announces Closing of Over-Allotment Option for Additional Proceeds of C$15 Million in Connection with Recently Completed Bought Deal Offering of 5.25% 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, July 24, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, July 24, 2020 /CNW/ - Cargojet Inc. (\"Cargojet\" or the \"Corporation\") (TSX: CJT) is pleased to announce the successful closing of the issue and sale of an additional $15 million aggregate principal amount of 5.25% listed senior unsecured hybrid debentures (the \"Debentures\") pursuant to the exercise in full of the over-allotment option granted to the syndicate of underwriters, co-led by RBC Capital Markets, CIBC Capital Markets and Scotiabank, in connection with the Corporation's recently completed bought deal offering of $100 million aggregate principal amount of Debentures (the \"Offering\"). \nTogether with the Debentures issued on July 16, 2020, Cargojet will have issued a total of C$115,000,000 aggregate principal amount of the Debentures.   \nThe Debentures bear interest at a rate of 5.25% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, commencing December 31, 2020, and will mature on June 30, 2026.\nThe Offering was made pursuant to a final short form prospectus dated July 9, 2020, and the Debentures are traded on the Toronto Stock Exchange under the symbol \"CJT.DB.F\".\nThe Corporation intends to use the net proceeds from the closing of the over-allotment option to pay down the Corporation's revolving credit facility and to free up capacity to fund future anticipated capital expenditures, including the purchase of aircraft.\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...