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CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES PRICING OF $125 MILLION REOPENING OF SENIOR UNSECURED NOTES BY ITS WHOLLY-OWNED SUBSIDIARY, CHEMTRADE LOGISTICS INC.
CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES PRICING OF $125 MILLION REOPENING OF SENIOR UNSECURED N...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\n CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES PRICING OF $125 MILLION REOPENING OF SENIOR UNSECURED NOTES BY ITS WHOLLY-OWNED SUBSIDIARY, CHEMTRADE LOGISTICS INC.\n \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 Canada NewsWire\n \n\n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Jan. 13, 2025\n \n\n /CNW/ - Chemtrade Logistics Income Fund (the \"\n \n Fund\n \n \") (TSX: CHE.UN) announced today that its wholly-owned subsidiary, Chemtrade Logistics Inc. (the \"\n \n Company\n \n \" and together with the Fund, \"\n \n Chemtrade\n \n \") has entered into an underwriting agreement to sell an additional\n \n $125 million\n \n aggregate principal amount of 6.375% Senior Unsecured Notes due 2029 of the Company (the \"\n \n Notes\n \n \") pursuant to a private placement offering (the \"\n \n Offering\n \n \"). The Notes will be issued at a price of\n \n $1,002.50\n \n per\n \n $1,000\n \n principal amount of Notes (yield to call of 6.294%), plus accrued interest from and including\n \n August 28, 2024\n \n . The Notes will have identical terms (except for their date of issue and issuance price) as, and form part of a single series with, the\n \n $250 million\n \n aggregate principal amount of 6.375% Senior Unsecured Notes due 2029 issued by the Company on\n \n August 28, 2024\n \n , resulting in an aggregate of $375 million principal amount of 6.375% Senior Unsecured Notes due 2029 outstanding.\n \n\n The net proceeds of the Offering are intended to be used to reduce indebtedness and for general corporate purposes.\n \n\n \"Chemtrade sustained robust cash flow generation and a strengthened balance sheet in the second half of 2024. Following our inaugural senior note offering, this Offering provides additional balance sheet flexibility and presents opportunities for Chemtrade to further optimize our capital structure and reduce outstanding convertible debt,\" said\n \n Rohit Bhardwaj\n \n , Chemtrade's Chief Financial Offi...