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Invesque Inc. Announces Partial Redemption of its Amended 2016 Convertible Debentures due January 31, 2025
Invesque Inc. Announces Partial Redemption of its Amended 2016 Convertible Debentures due...
About this update from Invesque Inc
[{"type":"text","content":"\n \n \n \n Invesque Inc. Announces Partial Redemption of its Amended 2016 Convertible Debentures due January 31, 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 TORONTO\n \n ,\n \n Dec. 10, 2021\n \n /CNW/ - Invesque Inc. (the \"\n \n Corporation\n \n \" or \"\n \n Invesque\n \n \") (TSX: IVQ) (TSX: IVQ.U) announced today that it has delivered a notice of redemption to the holders of the Corporation's outstanding 5.00% 2016 Convertible debentures due\n \n January 31, 2025\n \n (the \"\n \n Debentures\n \n \") in connection with the previously announced Debenture amendments approved by holders of Debentures on\n \n November 15, 2021\n \n (the \"\n \n Debenture Amendments\n \n \"). Such notice of redemption provides that the Corporation will, on\n \n January 31, 2022\n \n (the \"\n \n Redemption Date\n \n \"), redeem\n \n US$20,000,000.00\n \n of the principal amount of the Debentures (the \"\n \n Redeemed Debentures\n \n \") outstanding plus accrued and unpaid interest (at 5.00%) thereon (the \"\n \n Partial Redemption\n \n \"). In accordance with the Debenture Amendments, the interest rate on the Debentures will be increased to 7.00% effective\n \n January 31, 2022\n \n .\n \n \n The record date for the Partial Redemption will be\n \n January 24, 2022\n \n (the \"\n \n Record Date\n \n \"). Holders of Debentures on the Record Date will have a portion of their Debentures, in denominations of\n \n US$1,000\n \n , redeemed effective\n \n January 31, 2022\n \n on a\n \n pro rata\n \n basis in accordance with the terms of the trust indenture between the Corporation and Computershare Trust Company of\n \n Canada\n \n (the \"\n \n Debenture Trustee\n \n \") dated\n \n December 16, 2016\n \n , as supplemented by the supplemental indenture dated\n \n November 15, 2021\n \n (together, the \"\n \n Indenture\n \n \").\n \n \n On the Redemption Date, the holder of each Redeemed Debenture (which for greater certainty are selected on a\n \n pro rata\n \n basis), will receive a total payment of\n \n US$1,025\n \n per Redeemed Debenture,...