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CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES REDEMPTION OF ITS REMAINING 8.50% CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES DUE SEPTEMBER 30, 2025
CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES REDEMPTION OF ITS REMAINING 8.50% CONVERTIBLE UNSECURED...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\n CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES REDEMPTION OF ITS REMAINING 8.50% CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES DUE SEPTEMBER 30, 2025\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 Aug. 19, 2024\n \n\n /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) (\"\n \n Chemtrade\n \n \" or the \"\n \n Fund\n \n \") announced today that it will redeem on\n \n September 18, 2024\n \n (the \"\n \n Redemption Date\n \n \") all of its remaining 8.50% convertible unsecured subordinated debentures due\n \n September 30, 2025\n \n (the \"\n \n 2025 Debentures\n \n \") in accordance with the terms of the trust indenture, as amended and supplemented by supplemental indentures thereto (collectively, the \"\n \n Indenture\n \n \"), pursuant to which they were issued (the \"\n \n Redemption\n \n \").\n \n\n On the Redemption Date, holders of the 2025 Debentures will receive approximately\n \n $1,039.7131148\n \n for each\n \n $1,000\n \n principal amount of 2025 Debentures, representing their par value, plus all accrued and unpaid interest thereon to but excluding the Redemption Date. The 2025 Debentures that are redeemed in connection with the Redemption will cease to bear interest from and after the Redemption Date. Formal notice of redemption is being delivered to the holders of the 2025 Debentures today in accordance with the terms of the Indenture. The aggregate principal amount of 2025 Debentures outstanding as of the date hereof is\n \n $57,115,000\n \n .\n \n\n Chemtrade will use cash on hand, or a combination of cash on hand and draws on its credit facilities, to fund the Redemption.\n \n\n\n About Chemtrade\n \n\n\n Chemtrade operates a diversified business providing industrial chemicals and services to customers in\n \n North America\n \n and around the world. Chemtrade is one of\n \n North America's\n \n largest suppliers of sulphuric acid, spent acid p...