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TORONTO, Sept. 18,
2024 /CNW/ - Chemtrade Logistics Income Fund (TSX:
CHE.UN) ("Chemtrade" or the "Fund") announced today
that it has completed the redemption of all of its remaining 8.50%
convertible unsecured subordinated debentures due September 30, 2025 (the "2025
Debentures"). $5,974,000
aggregate principal amount of 2025 Debentures were redeemed as part
of the redemption.
As part of the redemption, holders of the 2025 Debentures
received approximately $1,039.71311
for each $1,000 principal amount of
2025 Debentures redeemed, representing their par value, plus all
accrued and unpaid interest thereon to but excluding the redemption
date. The 2025 Debentures (TSX: CHE.DB.F) have been de-listed from
the Toronto Stock Exchange.
On August 19, 2024, the date the
Fund announced its intention to redeem the 2025 Debentures,
$57,115,000 aggregate principal
amount of 2025 Debentures was outstanding. Since August 19, 2024, the Fund has issued a total of
approximately 7 million units to satisfy prior conversions of the
2025 Debentures. As of the date hereof, the Fund has approximately
122 million units issued and outstanding.
About Chemtrade
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 sodium hydrosulphite. Chemtrade is also the largest
producer of high purity sulphuric acid for the semiconductor
industry in North America.
Chemtrade is a leading regional supplier of sulphur, chlor-alkali
products, and zinc oxide. Additionally, Chemtrade provides
industrial services such as processing by-products and waste
streams.
Website:
www.chemtradelogistics.com
SOURCE Chemtrade Logistics Income Fund