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Chemtrade to draw down on revolver for convertibles redemption
By Wendy Van Sickle
Columbus, Ohio, May 10 – Chemtrade Logistics Income Fund will draw down on its revolving credit facility to fund a portion of its redemption of 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.
The company will also use cash on hand to fund the redemption.
Chemtrade Logistics Income Fund is a Calgary, Alta., supplier of industrial chemicals and services.
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