Business
Chemtrade Logistics Income Fund Announces Further Partial Redemption of Its 5.25% Convertible Unsecured Subordinated Debentures Due June 30, 2021
Chemtrade Logistics Income Fund Announces Further Partial Redemption of Its 5.25% Converti...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\nChemtrade Logistics Income Fund Announces Further Partial Redemption of Its 5.25% Convertible Unsecured Subordinated Debentures Due June 30, 2021\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, Sept. 4, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n TORONTO, Sept. 4, 2020 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) (\"Chemtrade\" or the \"Fund\") announced today that it has given notice that it will redeem (the \"October Redemption\") on October 5, 2020 (the \"Redemption Date\") a further $12.5 million principal amount of its 5.25% convertible unsecured subordinated debentures due June 30, 2021 (the \"2021 Debentures\"), in accordance with the terms of the trust indenture, as amended and supplemented by supplemental indentures thereto (collectively, the \"Indenture\"), pursuant to which they were issued. \nThe record date for determining the holders whose 2021 Debentures are to be redeemed on the Redemption Date shall be September 25, 2020. The 2021 Debentures shall be redeemed on a pro rata basis to the nearest multiple of $1,000 in accordance with the principal amount of the 2021 Debentures registered in the name of each holder, or in such other manner as deemed equitable, subject to any applicable regulatory approvals. \nOn the Redemption Date, holders of the 2021 Debentures to be redeemed in connection with the October Redemption will receive approximately $1,013.9139 for each $1,000 principal amount of 2021 Debentures, being equal to $1,000, plus all accrued and unpaid interest thereon to but excluding the Redemption Date. The 2021 Debentures that are redeemed in connection with the October Redemption will cease to bear interest from and after the Redemption Date.\nFormal notice of redemption has been delivered to the registered holder of the 2021 Debentures in accordance with the terms of the Indenture. The aggregate amount of 2021 Debentures outstanding as of the date hereof is $126.5 million. Chemtrade previously announced that it...