Business
TransForce Inc. Completes $85 Million Bought-Deal Offering of 5.65% Convertible Unsecured Subordinated Debentures
This release is intended for distribution in Canada only and is not intended for distributio...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\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, Sept. 7, 2011 /CNW Telbec/ - TransForce Inc. (TSX: TFI) announced today that it has completed its\n previously-announced bought-deal public offering by issuing 5.65%\n convertible unsecured subordinated debentures in an aggregate principal\n amount of $85 million.  The convertible debentures have been approved\n for listing on the Toronto Stock Exchange and will commence trading\n today under the symbol \"TFI.DB.A\".\n\n\nThe convertible debentures were sold to a syndicate of underwriters\n co-led by National Bank Financial Inc. and RBC Dominion Securities\n Inc., acting as joint book-runners, and including BMO Nesbitt Burns\n Inc., Desjardins Securities Inc., CIBC World Markets Inc.,\n Scotia Capital Inc., TD Securities Inc. and Cormark Securities Inc.\n\n\nTransForce intends to use the net proceeds of the offering for general\n corporate purposes, to support its program of strategic acquisitions\n and to reduce indebtedness.\n\n\nThe convertible debentures bear interest at a rate of 5.65% per annum,\n payable semi-annually in arrears on March 31 and September 30 each\n year, commencing on March 31, 2012.  The convertible debentures are\n convertible at the holder's option into TransForce common shares at a\n conversion price of $22.10 per share, representing a conversion rate of\n 45.2489 TransForce shares per $1,000 principal amount of convertible\n debentures.  The convertible debentures will mature on September 30,\n 2018 and may be redeemed by TransForce, in certain circumstances, after\n September 30, 2014.\n\n\nThis press release shall not constitute an offer to sell or the\n solicitation of an offer to buy any securities in any jurisdiction. \n The convertible debentures offered, and the common shares issuable upon\n the conversion or redemption of the convertible debentures, have not\n been and will not be registered under the U.S. Securities Act of 1933\n or state securities laws.  Accordingly, the convertible debentures may\n not be offered or sold to U.S. persons except pursuant to applicable\n exemptions from registration.\n\n\nProfile\n\n\nTransForce I...