Chemtrade Logistics completes C$143.75 million public offering of convertible debentures bought deal
On September 2, 2016, Chemtrade Logistics Income Fund (Chemtrade) completed its previously announced public offering of C$143.75 million principal amount of 5.00% convertible unsecured subordinated debentures due August 31, 2023, which includes the exercise in full of the over-allotment option of C$18.75 million principal amount of debentures. The debentures were sold to a syndicate of underwriters led by BMO Capital Markets and Scotiabank on a bought deal basis.
Chemtrade will use the net proceeds of the offering to repay existing indebtedness under its credit facility and for general trust purposes.
Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world.
Further information can be found on Chemtrade's website.