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Fort Chicago Power to redeem remaining 6.25% exchangeable debentures
By Marisa Wong
Madison, Wis., Sept. 29 - Fort Chicago Energy Partners LP said that its indirect wholly owned subsidiary, Fort Chicago Power Ltd., will redeem all $22,134,000 of its outstanding 6.25% exchangeable unsecured subordinated debentures due Oct. 31, 2012 on Oct. 31.
The exchangeable debentures are redeemable in whole or in part on or after the redemption date.
The redemption price, payable in cash, is $1,031.25 for each $1,000 principal amount of the debentures, which is equal to par plus accrued interest up to but excluding the redemption date.
Holders may exchange the debentures at C$1,051.09 plus accrued interest per $1,000 principal amount until 5 p.m. ET on Oct. 29. Any debentures not exchanged before the expiration time will be redeemed by Fort Chicago on the redemption date.
Based in Calgary, Alta., Fort Chicago owns and operates energy infrastructure assets across North America.
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