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Chorus Announces Completion of Purchases Pursuant to its Offers for its Series B Debentures and Series C Debentures
Chorus Announces Completion of Purchases Pursuant to its Offers for its Series B Debentures and S...
About this update from Chorus Aviation Inc.
[{"type":"text","content":"\n\n\n\n Chorus Announces Completion of Purchases Pursuant to its Offers for its Series B Debentures and Series C 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 IN\n \n THE UNITED STATES\n \n OR OVER\n \n UNITED STATES\n \n WIRE SERVICES/\n \n\n\n\n\n\n HALIFAX, NS\n \n\n ,\n \n\n Feb. 3, 2025\n \n\n /CNW/ - Chorus Aviation Inc. (TSX: CHR) (\"\n \n Chorus\n \n \") today announced the completion of the purchase of its previously announced offers to purchase any and all of the outstanding 6.00% Convertible Senior Unsecured Debentures due\n \n June 30, 2026\n \n (the \"\n \n Series B Debentures\n \n \") and 5.75% Senior Unsecured Debentures due\n \n June 30, 2027\n \n (the \"\n \n Series C Debentures\n \n \", and together with the Series B Debentures, the \"\n \n Debentures\n \n \") (CUSIP No.17040TAE2 and No.17040TAG7, respectively) (collectively, the \"\n \n Change of Control Offers\n \n \").\n \n\n Chorus purchased for cancellation a total of\n \n $43,773,000\n \n aggregate principal amount of Series B Debentures and a total of\n \n $37,797,000\n \n aggregate principal amount of Series C Debentures.\n \n\n The principal amount of Series B Debentures purchased pursuant to the Change of Control Offers represents approximately 60% of the outstanding aggregate principal amount of Series B Debentures at the time that the Change of Control Offers were commenced and, after giving effect to the purchase of such Series B Debentures for cancellation, approximately\n \n $28,727,000\n \n aggregate principal amount of Series B Debentures remains outstanding. The principal amount of Series C Debentures purchased pursuant to the Change of Control Offers represents approximately 44% of the outstanding aggregate principal amount of Series C Debentures at the time that the Change of Control Offers were commenced and, after giving effect to the purchase of such Series C Debentures for cancellation, approximately\n \n $47,203,000\n \n aggregate principal amount of Series C Debentures rema...