Business
TransForce Inc. Announces $125 Million Bought-Deal Offering of Convertible Unsecured Subordinated Debentures
TransForce Inc. Announces $125 Million Bought-Deal Offering of Convertible Unsecured Subordinated...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\n Nov. 1, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nThis release is intended for distribution in Canada only and is not\n intended for distribution to United States newswire services or for\n dissemination in the United States\n\n\nMONTREAL, Nov. 1 /CNW Telbec/ - TransForce Inc. (TSX: TFI) announced today that it has entered into an agreement\n with a syndicate of underwriters led by National Bank Financial Inc.\n and RBC Dominion Securities Inc. pursuant to which the underwriters\n have agreed to purchase, on a bought-deal basis, convertible unsecured\n subordinated debentures of TransForce in an aggregate principal amount\n of $125 million.  The debentures will be offered at a price of $1,000\n per debenture by way of short form prospectus in each of the provinces\n of Canada, as well as in the United States under applicable\n registration statement exemptions.  TransForce intends to use the net\n proceeds of the offering for general corporate purposes, to support its\n program of strategic acquisitions and to reduce indebtedness.\n\n\nThe debentures will bear interest at a rate of 6.0% per annum, payable\n semi-annually on May 31 and November 30 each year, commencing on\n May 31, 2011.  The debentures will be convertible at the holder's\n option into TransForce common shares at a conversion price of $19.05\n per share, representing a conversion rate of 52.4934 TransForce shares\n per $1,000 principal amount of debentures. ...