Business
Chemtrade Logistics Income Fund Enters Into New Automatic Securities Purchase Plan
TORONTO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Chemtrade Logistics Income Fund (TSX: CHE.UN) (ȁ...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"Chemtrade Logistics Income Fund Enters Into New Automatic Securities Purchase Plan\n\n\n\n TORONTO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) today announced that, in connection with its previously announced normal course issuer bid (\"NCIB\") to purchase up to 11,231,131 of its units, it has entered into a new automatic securities purchase plan (the “ASPP\") with its designated broker.\n \n\n On September 22, 2025, Chemtrade announced a series of strategic transactions aimed at optimizing its capital structure and reducing its exposure to convertible debt instruments. The announcements included the upcoming redemption of all of its issued and outstanding 6.25% Convertible Unsecured Subordinated Debentures due August 31, 2027 (CUSIP No. 16387PAL7) (the “2027 Debentures”) in accordance with the terms of the trust indenture, as amended and supplemented by supplemental indentures thereto, pursuant to which they were issued. In addition, the Fund also declared its intention to commence a substantial issuer bid (the “2027 Offer”) for all of its issued and outstanding 2027 Debentures and a substantial issuer bid (the “2028 Offer” and collectively with the 2027 Offer, the “Offers”) for all of its issued and outstanding 7.00% Convertible Unsecured Subordinated Debentures due June 30, 2028 (CUSIP No. 16387PAM5).\n \n\n In connection with Chemtrade’s announcement of its intention to commence the Offers, the automatic securities purchase plan that Chemtrade previously entered into with its designated broker in connection with the NCIB was automatically terminated in accordance with its terms. Chemtrade has entered into a new automatic securities purchase plan with its designated broker, that will allow for purchases of units during certain pre-determined blackout periods, subject to certain parameters as to price and number of units. The new automatic securities purchase plan will only be effective and purchases of units can only commence after the termination or expiry of the Offers. Outside of these pre-determined black-out periods, units will be purchased in accordance with management's discretion, subject to applicable law.\n \n\n The ASPP constitutes an automatic plan for ...