Chemtrade Electrochem Inc. (Formerly Canexus Corporation) Completes Partial Redemption of 7.875% Notes
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Calgary, Alberta (June 26, 2017) – Chemtrade Electrochem Inc. (formerly Canexus Corporation) (“Chemtrade Electrochem”) and Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade”) announced today that, as previously announced, Chemtrade Electrochem has redeemed $38,500,000 aggregate principal amount (the “Principal Amount”) of its 7.875% Senior Unsecured Notes due 2023 (the “Notes”), representing 35% of the $110,000,000 aggregate principal amount of Notes outstanding. The Notes were redeemed at a total redemption price of $1,099.89 for each $1,000 principal amount of Notes, for a total aggregate redemption price of $42,345,765, being equal to 107.875% of the Principal Amount, plus all accrued and unpaid interest to but excluding the redemption date.
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, sodium hydrosulphite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide, potassium chloride, 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