Wednesday, January 8, 2014

Chemtrade Logistics Income Fund - CHE.UN.t

Chemtrade Logistics Income Fund - CHE.UN.t is one of the world’s largest suppliers of sulphuric acid, liquid sulphur dioxide (SO2) and sodium hydrosulphite (SHS), and a leading North American processor of spent acid. Chemtrade is also a leading regional supplier of sulphur, sodium chlorate and water treatment chemicals, one of only two North American producers of phosphorous pentasulphide and also produces zinc oxide at three North American locations.








On January 7, 2014 the company reported News

Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Scotiabank (the “Joint Bookrunners”), under which the underwriters have agreed to buy on a bought deal basis 15,800,000 subscription receipts (the “Subscription Receipts”), at a price of $19.00 per Subscription Receipt (the “Offering Price”) for gross proceeds of $300.2 million (the “Offering”). The Fund has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about January 23, 2014 and is subject to Chemtrade receiving all necessary regulatory approvals.

The net proceeds of the Offering will be used to partially fund Chemtrade’s previously announced acquisition (the “Transaction”) of General Chemical Holding Company (“General Chemical”), which is expected to close by late January, 2014.
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http://pennystockjournal.blogspot.com/2014/01/chemtrade-logistics-income-fund-cheunt.html


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