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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 5.75% 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 5.75% 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, April 26, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, April 26, 2019 /CNW/ - Cargojet Inc. (\"Cargojet\" or the \"Corporation\") (TSX: CJT, CJT.A) is pleased to announce the successful closing of the issue and sale of an additional $15 million aggregate principal amount of 5.75% 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 and CIBC Capital Markets, 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 April 16, 2019, 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 5.75% 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 are traded on the Toronto Stock Exchange under the symbol \"CJT.DB.E\".\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 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 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 ab...