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CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES RESULTS OF ITS SUBSTANTIAL ISSUER BID FOR ITS 8.50% CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES DUE SEPTEMBER 30, 2025
CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES RESULTS OF ITS SUBSTANTIAL ISSUER BID FOR ITS 8.50% CON...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n\n\n CHEMTRADE LOGISTICS INCOME FUND ANNOUNCES RESULTS OF ITS SUBSTANTIAL ISSUER BID FOR ITS 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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n July 31, 2024\n \n\n /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) (\"\n \n Chemtrade\n \n \" or the \"\n \n Fund\n \n \") today announced the results of its previously announced substantial issuer bid (the \"\n \n Offer\n \n \") to purchase for cancellation up to all of its issued and outstanding 8.50% Convertible Unsecured Subordinated Debentures due\n \n September 30, 2025\n \n (the \"\n \n Debentures\n \n \") (CUSIP No. 16387PAK9).\n \n\n The Offer expired in accordance with its terms at\n \n 5:00 p.m. Eastern time\n \n on\n \n July 31\n \n , 2024. Based on the final count by Computershare Investor Services Inc., the depositary for the Offer (the \"\n \n Depositary\n \n \"), a total of\n \n $28,288,000\n \n aggregate principal amount of Debentures were properly tendered to the Offer and not withdrawn.\n \n\n In accordance with the terms and conditions of the Offer, the Fund will be taking up\n \n $28,288,000\n \n aggregate principal amount of Debentures for total consideration of\n \n $37,615,311.04\n \n representing a purchase price of\n \n $1,300\n \n per\n \n $1,000\n \n principal amount of Debentures, plus all accrued and unpaid interest thereon to but excluding the payment date as required by applicable securities laws and as set out in the offer to purchase and accompanying issuer bid circular dated\n \n June 25, 2024\n \n , as well as the related letter of transmittal. The principal amount of Debentures purchased pursuant to the Offer represents approximately 33.12% of the outstanding aggregate principal amount of Debentures as of the date hereof and, after giving effect to the purchase of such Debentures for cancellation, approximately\n \n $57,115,000\n \n aggregate principal amount of Debentures will remain outstanding.\n \n\n The Fund will make payment for the De...