Business
Chemtrade Logisitics Income Fund Announces C$100 Million Bought Deal Financing
/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, Nov. 17, 2014 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) (\"Chemtrade\" or the \"Fund\") has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 4,700,000 trust units (the \"Trust Units\"), at a price of C$21.30 per Trust Unit for gross proceeds of C$100,110,000 (the \"Offering\"). The Fund has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any.\n\nThe net proceeds of the offering will be used to repay existing indebtedness and for general trust purposes.\n\nThe offering is subject to normal regulatory approvals, including approval of the Toronto Stock Exchange, and is expected to close on or about December 5, 2014\n\nThe Trust Units will be offered by way of a short form prospectus in all of the provinces and territories of Canada and may also be offered by way of private placement in the United States.\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 nor shall there be any 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, inorganic 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 by-products and waste streams\n\nCaution Regarding Forward-Looking StatementsCertain statements conta...