Chemtrade Logistics Income Fund Completes Redemption of its Remaining 4.75% Convertible Unsecured Subordinated Debentures Due May 31, 2024
Not for distribution to U.S. news wire services or dissemination in the United States.
TORONTO, Ontario, June 30, 2023 – Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) announced today that it has completed the redemption of the remaining $101.115 million principal amount of its 4.75% convertible unsecured subordinated debentures due May 31, 2024 (the “2024 Debentures”).
As part of the redemption, holders of the 2024 Debentures received approximately $1,003.9041 for each $1,000 principal amount of 2024 Debentures redeemed, representing their par value, plus all accrued and unpaid interest thereon to but excluding the redemption date. The 2024 Debentures (TSX: CHE.DB.D) have been de-listed from the Toronto Stock Exchange.
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 also the largest producer of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
* * * *
For further information:
Chief Financial Officer
Tel: (416) 496-4177
Corporate Development Manager
Tel: (973) 515-1831