Business
Chemtrade Announces Expiration of its Offers to Purchase Chemtrade Electrochem Inc. (formerly Canexus Corporation) Convertible Debentures
Chemtrade Announces Expiration of its Offers to Purchase Chemtrade Electrochem Inc. (forme...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\nChemtrade Announces Expiration of its Offers to Purchase Chemtrade Electrochem Inc. (formerly Canexus Corporation) Convertible 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\nTORONTO, Aug. 23, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, Aug. 23, 2017 /CNW/ - Chemtrade Logistics Income Fund (TSX:CHE.UN) (\"Chemtrade\" or the \"Fund\") announced today the expiration of its previously announced offers to purchase (i) all of the outstanding 6.00% Convertible Unsecured Subordinated Series V Debentures due December 31, 2020 of Chemtrade Electrochem Inc. (formerly Canexus Corporation) (the \"CEI Series V Debentures\") (such offer, the \"Series V Offer\"), and (ii) all of the outstanding 6.50% Convertible Unsecured Subordinated Series VI Debentures due December 31, 2021 of Chemtrade Electrochem Inc. (the \"CEI Series VI Debentures\" and together with the CEI Series V Debentures, the \"CEI Debentures\") (such offer, the \"Series VI Offer\" and together with the Series V Offer, the \"Offers\"). Each of the Series V Offer and the Series VI Offer expired at 5:00 p.m. (Eastern Time) on August 23, 2017.\n\nThe Offers were conditioned upon the satisfaction of certain conditions, including that a minimum of at least 25% of the principal amount of each respective series of CEI Debentures were validly tendered to its corresponding Offer and not withdrawn.\n\nThe final report provided by the depositary at the expiration of the Offers indicated that an aggregate principal amount of $19,475,000 CEI Series V Debentures had been tendered to the Series V Offer and an aggregate principal amount of $12,576,000 CEI Series VI Debentures had been tendered to the Series VI Offer. Accordingly, as the conditions to the Offers had not been satisfied as of the expiration time of the Offers, Chemtrade will not accept any tendered CEI Debentures for payment. All CEI Debentures tendered pursuant to the Offers will be returned to the tendering debentureholder promptly...