Chemtrade to redeem another $12.5 million 5.25% convertibles due 2021

By Taylor Fox

New York, Sept. 4 – Chemtrade Logistics Income Fund plans to redeem an additional $12.5 million of its $126.5 million 5.25% convertible subordinated debentures due June 30, 2021 on Oct. 5, according to a news release.

Holders will receive $1,013.9139 for each $1,000 principal amount of debentures, plus accrued interest.

The debentures to be redeemed will be determined on Sept. 25 and those selected will be redeemed on a pro rata basis.

Chemtrade previously announced that it will redeem $100 million of the 2021 debentures on Sept. 29.

Following the partial redemptions, $14 million of the debentures are expected to remain outstanding.

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

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