Chemtrade Logistics to redeem remaining 4.75% convertibles due 2024

By Wendy Van Sickle

Columbus, Ohio, May 10 – Chemtrade Logistics Income Fund will redeem its remaining outstanding C$101,115,000 of 4.75% convertible subordinated debentures due May 31, 2024 on June 30, according to a press release.

Holders will receive C$1,003.9041 for each C$1,000 principal amount of 2024 debentures redeemed, representing their par value plus accrued interest.

Cash on hand and revolver liquidity will be used to fund the redemption.

Chemtrade Logistics Income Fund is a Calgary, Alta., supplier of industrial chemicals and services.

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