Chemtrade Logistics closes $250-million note offering

Executive Summary

• Chemtrade Logistics Income Fund’s subsidiary closed a $250 million senior unsecured note offering (5.750% due Oct. 1, 2032).
• Proceeds will be used to repay indebtedness and for general corporate purposes.
• The notes were sold privately in Canada and to qualified institutional buyers in the U.S. under Rule 144A; underwriting led by National Bank Capital Markets and BMO Capital Markets.

Key Details

• Offering size: $250 million aggregate principal amount.
• Instrument: 5.750% senior unsecured notes due October 1, 2032.
• Closing status: Successfully closed the previously announced private placement.
• Use of proceeds: Repayment of existing indebtedness and general corporate purposes.
• Placement method: Private placement in Canada; Rule 144A offering to qualified institutional buyers in the United States.
• Underwriters: Syndicate led by National Bank Capital Markets and BMO Capital Markets.

Notable Quotes

(No quotes provided in the release.)