Chemtrade Logistics Income Fund in its $110 million public offering of convertible debentures

On March 8, 2023, Chemtrade Logistics Income Fund completed a public offering of $100 million principal amount of 7.00% convertible unsecured subordinated debentures due June 30, 2028. The debentures were sold on a bought deal basis to a group of underwriters led by Scotiabank, TD Securities Inc. and BMO Capital Markets. The underwriters in the offering also elected to partially exercise their over-allotment option to purchase an additional $10 million of debentures on March 20, 2023. Chemtrade intends to use the net proceeds of the offering, together with cash on hand, to fund the partial redemption of its 4.75% convertible unsecured subordinated debentures due May 31, 2024.

Chemtrade provides industrial chemicals and services to customers in North America and around the world.

Osler, Hoskin & Harcourt LLP advised Chemtrade Logistics Income Fund with a team consisting of Amelia Miao, Kevin Feng, Josh Pederson (Corporate), David Davachi and James Chang (Tax), Joyce Bernasek, Jasmyn Lee and Kayla Sommerville (Banking and Financial Services) and Samuel Cohen, Bernard Chouteau and Valérie Huard (Translation).