Chemtrade Electrochem Inc. (Formerly Canexus Corporation) and Chemtrade Logistics Income Fund Announce Completion of Redemption of Chemtrade Electrochem’s 6.50% Convertible Unsecured Subordinated Series VI Debentures
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Calgary, Alberta, and Toronto, Ontario, January 3, 2020 – Chemtrade Electrochem Inc. (formerly Canexus Corporation) (“Chemtrade Electrochem”) and Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade”) announced today that Chemtrade Electrochem has completed the redemption of all of its outstanding 6.50% Convertible Unsecured Subordinated Series VI Debentures. The debentures were redeemed for a redemption price equal to $1,000 per $1,000 principal amount of debentures, plus accrued and unpaid interest to but excluding the redemption date of $0.53425 per $1,000 principal amount of debentures. Chemtrade used its credit facilities to fund the redemption.
Following the redemption of the debentures, Chemtrade Electrochem has submitted an application to cease to be a reporting issuer.
About Chemtrade Electrochem
Chemtrade Electrochem is an indirect wholly-owned subsidiary of Chemtrade that produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries.
Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide, potassium chloride, sodium hydrosulphite and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
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For further information:
President & CEO
Tel: (416) 496-4176
Vice President, Finance & CFO
Tel: (416) 496-4177