Cargojet to pay down revolving credit facility via hybrid debentures

By Sarah Lizee

Olympia, Wash., Oct. 17 – Cargojet Inc. plans to pay down its revolving credit facility using proceeds from an offering of C$75 million 5.75% senior unsecured hybrid debentures, according to a press release.

The company said the facility has been drawn to support engine and aircraft purchases.

Proceeds from the offering will also be used to free up capacity to fund anticipated capital expenditures, including aircraft, in the future.

Cargojet is a Mississauga, Ont., provider of overnight air cargo services.

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