Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund in its $86.5 million bought deal equity offering

Client

Chemtrade Logistics Income Fund

Value

$86.5 million

Service

Capital Markets

Date Closed

August 2022

Industry

Chemicals

Lead Office

Toronto

 

On August 22, 2022, Chemtrade Logistics Income Fund (“Chemtrade”) completed a public bought deal offering of trust units. The underwriters elected to exercise the over-allotment option in full, resulting in a total of 10,005,000 trust units being issued for gross proceeds of approximately $86.5 million. The trust units were sold to a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets, and which included CIBC Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc. and Desjardins Securities Inc.

The net proceeds from the offering are intended to be used to partially finance Chemtrade’s previously announced ultrapure sulphuric acid growth projects to expand capacity at its existing Ohio plant and to build a new plant in Arizona.

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world.

Osler, Hoskin & Harcourt LLP advised Chemtrade with a team consisting of Amelia Miao, Kevin Feng, Desmond Christy (Corporate), David Davachi, James Chang (Tax), Joyce Bernasek, Jasmyn Lee, Kayla Sommerville (Banking and Financial Services), Samuel Cohen and Sophie Plourde (Translation).