TransForce Inc. Completes $85 Million Bought-Deal Offering of 5.65% Convertible Unsecured Subordinated Debentures

This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States

MONTREAL, Sept. 7, 2011 /CNW Telbec/ - TransForce Inc. (TSX: TFI) announced today that it has completed its previously-announced bought-deal public offering by issuing 5.65% convertible unsecured subordinated debentures in an aggregate principal amount of $85 million.  The convertible debentures have been approved for listing on the Toronto Stock Exchange and will commence trading today under the symbol "TFI.DB.A".

The convertible debentures were sold to a syndicate of underwriters co-led by National Bank Financial Inc. and RBC Dominion Securities Inc., acting as joint book-runners, and including BMO Nesbitt Burns Inc., Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc. and Cormark Securities Inc.

TransForce intends to use the net proceeds of the offering for general corporate purposes, to support its program of strategic acquisitions and to reduce indebtedness.

The convertible debentures bear interest at a rate of 5.65% per annum, payable semi-annually in arrears on March 31 and September 30 each year, commencing on March 31, 2012.  The convertible debentures are convertible at the holder's option into TransForce common shares at a conversion price of $22.10 per share, representing a conversion rate of 45.2489 TransForce shares per $1,000 principal amount of convertible debentures.  The convertible debentures will mature on September 30, 2018 and may be redeemed by TransForce, in certain circumstances, after September 30, 2014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.  The convertible debentures offered, and the common shares issuable upon the conversion or redemption of the convertible debentures, have not been and will not be registered under the U.S. Securities Act of 1933 or state securities laws.  Accordingly, the convertible debentures may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration.


TransForce Inc. is a North American leader in the transportation and logistics industry.  Operating across Canada and the United States, TransForce creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned, operating subsidiaries.  Under the TransForce umbrella, companies benefit from corporate financial and operational resources to build their businesses and increase their efficiency.  TransForce companies service four well-defined reportable segments:

  • Package and Courier;
  • Less-Than-Truckload;
  • Truckload, which includes specialized truckload and dedicated services;
  • Specialized Services, which includes waste management, energy sector services, logistics and ancillary transportation services.

TransForce Inc. (TFI) is publicly traded on the Toronto Stock Exchange (TSX).  For more information, visit

Forward-Looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TransForce.  These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events.  Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TransForce's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes.  As a result, readers are advised that actual results may differ from expected results.

SOURCE TransForce Inc.

For further information:

Investors:  Media:
Alain Bédard  
Chairman of the Board, President and CEO 
TransForce Inc. 
Rick Leckner
MaisonBrison Communications

Profil de l'entreprise

TransForce Inc.

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