November 06, 2018
Torys represented the syndicate of underwriters co-led by RBC Capital Markets and CIBC Capital Markets with a team that included Rima Ramchandani, Robbie Leibel and Michael Murphy (corporate/securities) and Richard Johnson (tax).
On October 17, 2018, Cargojet Inc. ("Cargojet") announced that it entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets and CIBC Capital Markets under which the underwriters agreed to purchase C$75 million aggregate principal amount of 5.75% listed senior unsecured hybrid debentures due April 30, 2024 at a price of C$1,000 per debenture.
The offering closed on November 6, 2018.
Cargojet also granted the underwriters an option to purchase up to an additional C$11.25 million aggregate principal amount of debentures, on the same terms and conditions, exercisable in whole or in part, for a period of 30 days following closing of the offering. On November 11, 2018, Cargojet announced the successful closing of the over-allotment option, exercised in full, for aggregate total gross proceeds of C$86.25 million.
Cargojet is Canada's leading provider of time-sensitive overnight air cargo services and carries over 1,300,000 pounds of cargo each business night.
Further information can be found on Canada Newswire’s website.