Chemtrade Logistics Income Fund Announces $100 Million Convertible Debenture Bought Deal Financing and Intention to Partially Redeem 4.75% Convertible Unsecured Debentures due May 31, 2024

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Last update: Feb 27, 2023

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TORONTO, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Chemtrade Logistics Income Fund (“Chemtrade” or the “Fund”) (TSX: CHE.UN) announced today a public offering (the “Offering”), on a “bought deal” basis, of $100 million principal amount of convertible unsecured subordinated debentures, at a price of $1,000 per debenture, with an interest rate of 7.00% per annum, payable semi-annually in arrears on the last day of June and December commencing on June 30, 2023 (the “Debentures”). The Debentures will mature on June 30, 2028. The completion of the Offering is subject to normal regulatory approvals, including approval of the TSX, and is expected to close on or about March 8, 2023.