Chemtrade Electrochem Inc. (formerly Canexus Corporation) and Chemtrade Logistics Income Fund Announce the Provision of Notice of Redemption for Chemtrade Electrochem’s 6.50% Convertible Unsecured Subordinated Series VI Debentures
CALGARY, Alberta & TORONTO--(BUSINESS WIRE)--Nov 25, 2019--
Chemtrade Electrochem Inc. (formerly Canexus Corporation) (“Chemtrade Electrochem”) and Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade”) announced today that Chemtrade Electrochem has provided a notice of redemption to Computershare Trust Company of Canada for the redemption of all of its outstanding 6.50% Convertible Unsecured Subordinated Series VI Debentures, which redemption will be effective on January 3, 2020. The debentures will be redeemed for a redemption price equal to $1,000 per $1,000 principal amount of debentures, plus accrued and unpaid interest up to but excluding the redemption date, of $0.53425 per $1,000 principal amount of debentures. Chemtrade intends to use its credit facilities to fund the redemption.
Following the redemption of the debentures, Chemtrade Electrochem intends to submit an application to cease to be a reporting issuer.
About Chemtrade Electrochem
Chemtrade Electrochem is an indirect wholly-owned subsidiary of Chemtrade that produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries.
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 and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide, potassium chloride, sodium hydrosulphite and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005700/en/
CONTACT: Mark Davis
Chief Executive Officer
Tel: (416) 496-4176Rohit Bhardwaj
Chief Financial Officer
Tel: (416) 496-4177
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING TEXTILES
SOURCE: Chemtrade Electrochem Inc.
Copyright Business Wire 2019.
PUB: 11/25/2019 05:00 PM/DISC: 11/25/2019 05:00 PM