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CALGARY and TORONTO, Nov. 28, 2018 /CNW/ - Chemtrade Electrochem Inc. (formerly Canexus Corporation) ("Chemtrade Electrochem") and Chemtrade Logistics Income Fund (TSX: CHE.UN) ("Chemtrade") announced today that Chemtrade Electrochem has provided a notice of redemption to Computershare Trust Company of Canada for the redemption of all of its outstanding 6.00% Convertible Unsecured Subordinated Series V Debentures, which redemption will be effective on January 3, 2019. The debentures will be redeemed for a redemption price equal to $1,000 per $1,000 principal amount of debentures, plus accrued and unpaid interest to but excluding the redemption date of $0.49315 per $1,000 principal amount of debentures. Chemtrade intends to use its credit facilities to fund the redemption.
About Chemtrade Electrochem
Chemtrade Electrochem is an indirect wholly-owned subsidiary of Chemtrade that produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries.
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, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide, potassium chloride, sodium hydrosulphite and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
SOURCE Chemtrade Logistics Income Fund
For further information: Mark Davis, Chief Executive Officer, Tel: (416) 496-4176; Rohit Bhardwaj, Chief Financial Officer, Tel: (416) 496-4177