Chemtrade completes C$80 million offering of convertible debentures

On March 24, 2010, Chemtrade Logistics Income Fund (TSX: CHE:UN) announced the closing of its previously announced public offering of C$80 million principal amount of 6.0% convertible unsecured subordinated debentures due March 31, 2017. The offering was underwritten, on a bought deal basis, by a syndicate of underwriters co-led by Scotia Capital Inc. and BMO Capital Markets. Chemtrade has also granted the underwriters an over-allotment option to purchase up to an additional $12 million aggregate principal amount of debentures at the same price, exercisable in whole or in part at any time for a period of 30 days following closing. The net proceeds will be used to repay existing indebtedness and for general trust purposes.

Chemtrade Logistics, headquartered in Toronto, provides industrial chemicals and services to customers in North America and internationally.

Further information is found on Chemtrade Logistics' website.