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SERVICES OR DISSEMINATION IN THE UNITED
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TORONTO, Aug. 28,
2024 /CNW/ - Chemtrade Logistics Income Fund
(the "Fund") (TSX: CHE.UN) announced today that its
wholly-owned subsidiary, Chemtrade Logistics Inc. (the
"Company" and together with the Fund, "Chemtrade")
has successfully closed its previously announced private placement
offering (the "Offering") of $250
million aggregate principal amount of 6.375% Senior
Unsecured Notes due August 28, 2029
of the Company (the "Notes"). As previously stated, the
Company will utilize the proceeds of the Offering to reduce
indebtedness under the Company's credit agreement and for general
corporate purposes.
The Offering was underwritten by a syndicate of underwriters led
by National Bank Financial Markets and BMO Capital Markets.
The Notes were offered for sale in Canada on a private placement basis and to
qualified institutional buyers pursuant to Rule 144A in
the United States. The Notes have
not been registered under the U.S. Securities Act of 1933, as
amended and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.
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, regen 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 and
chlor-alkali products. Additionally, Chemtrade provides industrial
services such as processing by-products and waste streams.
Caution Regarding Forward-Looking Statements
Certain statements contained in this news release constitute
forward-looking information within the meaning of certain
securities laws, including the Securities
Act (Ontario).
Forward-looking information can be generally identified by the use
of words such as "anticipate", "continue", "estimate", "expect",
"expected", "intend", "may", "will", "project", "plan", "should",
"believe" and similar expressions. Specifically, forward-looking
information in this news release include statements respecting
certain future expectations about the expected use of proceeds of
the Offering. Forward-looking statements in this news release
describe the expectations of the Fund and its subsidiaries as of
the date hereof. These statements are based on assumptions and
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements for a variety
of reasons, including without limitation the risks and
uncertainties detailed under the "Risk Factors" section of the
Fund's latest Annual Information Form and the "Risks and
Uncertainties" section of the Fund's most recent Management's
Discussion & Analysis.
Although the Fund believes the expectations reflected in these
forward-looking statements and the assumptions upon which they are
based are reasonable, no assurance can be given that actual results
will be consistent with such forward-looking statements, and they
should not be unduly relied upon. With respect to the
forward-looking statements contained in this news release, the Fund
has made assumptions regarding there being no significant
disruptions affecting the operations of Chemtrade and its
subsidiaries and global economic performance.
Except as required by law, the Fund does not undertake to update
or revise any forward-looking statements, whether as a result of
new information, future events or for any other reason. The
forward-looking information contained herein are expressly
qualified in their entirety by this cautionary statement.
Further information can be found in the disclosure documents
filed by the Fund with the securities regulatory authorities,
available at www.sedarplus.com.
SOURCE Chemtrade Logistics Income Fund
