TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade”) announced today that it has completed the early partial redemption of $100 million of its outstanding 4.75% convertible unsecured subordinated debentures due May 31, 2024 (the “2024 Debentures”). Following completion of this redemption, $101.115 million aggregate principal amount of the 2024 Debentures will remain outstanding.
As part of the redemption, holders of the 2024 Debentures received, for each $1,000 principal amount of 2024 Debentures redeemed, approximately $1,020.1712, being equal to $1,000, plus all accrued and unpaid interest thereon to but excluding the redemption date.
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 and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.