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CHEMTRADE LOGISTICS INCOME FUND COMPLETES $120 MILLION PUBLIC OFFERING OF CONVERTIBLE DEBENTURES BOUGHT DEAL AND ANNOUNCES REDEMPTION OF 5.00% CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES
CHEMTRADE LOGISTICS INCOME FUND COMPLETES $120 MILLION PUBLIC OFFERING OF CONVERTIBLE DEB...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n \n \n \n CHEMTRADE LOGISTICS INCOME FUND COMPLETES $120 MILLION PUBLIC OFFERING OF CONVERTIBLE DEBENTURES BOUGHT DEAL AND ANNOUNCES REDEMPTION OF 5.00% CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES\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 TORONTO\n \n ,\n \n Dec. 15, 2021\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 has completed its previously-announced public offering (the \"\n \n Offering\n \n \") of\n \n $120 million\n \n principal amount of 6.25% convertible unsecured subordinated debentures (the \"\n \n Debentures\n \n \") due\n \n August 31, 2027\n \n . The Debentures are convertible, at the option of the holder, into trust units of Chemtrade at a conversion price of\n \n $10.00\n \n per unit. The Debentures were sold to a syndicate of underwriters led by RBC Capital Markets, National Bank Financial Inc., BMO Capital Markets, CIBC Capital Markets, Scotiabank, and TD Securities Inc. on a bought deal basis. In addition, Chemtrade has granted the underwriters an over-allotment option to purchase up to an additional\n \n $18 million\n \n aggregate principal amount of Debentures at the same price, which can be exercised in whole or in part at any time for a period of 30 days following the closing of the Offering.\n \n \n Chemtrade also announced today that it will redeem on January 25, 2022 (the \"\n \n Redemption Date\n \n \") all of its 5.00% convertible unsecured subordinated debentures due\n \n August 31, 2023\n \n (the \"\n \n 2023 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. On the Redemption Date, holders of 2023 Debentures will receive approximately\n \n $1,020.1370\n \n for each\n \n $1,0...