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Wajax Announces Notice of Redemption for all of its 6.125% Senior Notes due October 23, 2020
Wajax Announces Notice of Redemption for all of its 6.125% Senior Notes due October 23, 20...
About this update from Wajax Corporation
[{"type":"text","content":"\n\n\n\nWajax Announces Notice of Redemption for all of its 6.125% Senior Notes due October 23, 2020\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.prntblns{\nBORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt\n}\n.prnsbb1{\nBORDER-BOTTOM:1pt\n}\n.prnsbr1{\nBORDER-RIGHT:1pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbt1{\nBORDER-TOP:1pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsbl1{\nBORDER-LEFT:1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 20, 2017\n\n\n\nTSX Symbol:  WJX\n\n\n\nTORONTO, Sept. 20, 2017 /CNW/ - Wajax Corporation (\"Wajax\" or the \"Corporation\") today announced that it has issued a notice of redemption for all of its outstanding 6.125% Senior Notes due October 23, 2020 (CUSIP Nos 930783AB1 / 930783AA3) (the \"Notes\").  A notice of redemption (the \"Redemption Notice\") pursuant to the terms of the indenture governing the Notes (the \"Indenture\") is being distributed by Computershare Trust Company of Canada, the trustee under the Indenture. The Redemption Notice issued today states that the redemption date is October 23, 2017 (the \"Redemption Date\"), and the redemption price is 103.063% of the principal amount of the Notes redeemed, plus accrued and unpaid interest to the Redemption Date. \n\nWajax also today announced that it has successfully entered into amendments to its senior secured credit facilities, pursuant to which the aggregate commitments of the lenders have been increased from $250.0 million to $300.0 million and the maturity date has been extended to 2021. In addition, the financial covenants under the credit facilities restricting distributions, acquisitions and investments have been increased to 4.0 times debt/EBITDA.(1)\n\nThe Notes redemption will be financed with the proceeds of drawings under the amended and restated credit facilities.\n\n\"The early redemption and refinancing of the 2020 Notes using our enhanced credit facilities will reduce Wajax's cost of debt sign...