Business
Chemtrade Increases Proceeds of Convertible Debentures Offering With Exercise of Underwriters' Over-Allotment
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./ ...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, June 16, 2014 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) (\"Chemtrade\" or the \"Fund\") today announced that the syndicate of underwriters led by BMO Capital Markets and Scotiabank have purchased an additional $16.5 million principal amount of 5.25% convertible unsecured subordinated debentures due June 30, 2021 (the \"Debentures\") pursuant to the over-allotment option granted to the underwriters in connection with the previously announced offering of $110 million principal amount of Debentures. The exercise of the over-allotment option brings the aggregate gross proceeds of the public offering to $126.5 million. Chemtrade will use the net proceeds of the offering to repay existing indebtedness under its credit facility. The Debentures are listed on the Toronto Stock Exchange under the symbol \"CHE.DB.B\".\n\nThe securities offered have not been 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. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.\n\nAbout Chemtrade\n\nChemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America's largest suppliers of sulphuric acid, coagulants for water treatment, liquid sulphur dioxide, sodium nitrite and sodium hydrosulphite. Chemtrade is a leading processor of spent acid as well as a leading regional supplier of sulphur, sodium chlorate, phosphorus pentasulphide, and zinc oxide. Additionally, Chemtrade provides industrial services such as processing hydrogen sulphide and other by-products and waste streams.\n\nCaution Regarding Forward-Looking Statements \n\nCertain statements contained in this news release constitute forward-looking information within the meaning of certain securities laws, including the Securities Act...