TORONTO, June 2 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN)
announced today that it has extended the Fund's senior credit facilities with
its principal bankers to August 2011. This is a two year extension to the
current term, on substantially the same terms as the existing agreement.
Mark Davis, President and Chief Executive Officer of Chemtrade, said, "In
keeping with our practice, we have extended the term of our credit agreement
well ahead of its maturity date. The early renewal reflects the strength of
our business and the strong relationships we have with our bankers. This has
also allowed us to take advantage of the current favourable interest rate
environment which results in an interest rate on our debt which is consistent
with the rate we are currently paying. The early renewal also maintains our
flexibility to undertake various projects to continuously improve the
operating reliability and efficiency of our plants."
This news release contains certain statements which may constitute
"forward-looking" statements within the meaning of certain securities laws,
including the "safe harbour" provisions of the Securities Act (Ontario). The
use of any of the words "anticipate", "continue", estimate", "expect", "may",
"will", "project", "should", "believe" and similar expressions are intended to
identify forward-looking statements.
This news release contains forward-looking statements about the
objectives, strategies, financial condition, results of operations and
businesses of the Fund. These statements are "forward-looking" as they are
based on current expectations about our business and the markets we operate
in, and on various estimates and assumptions.
- Forward-looking statements in this news release describe our
expectations as of the date of this news release.
- Our actual results could be materially different from our
expectations if known or unknown risks affect our business, or if our
estimates or assumptions turn out to be inaccurate. As a result, we
cannot guarantee that any forward-looking statement will materialize.
- Forward-looking statements do not take into account the effect that
transactions or non-recurring items announced or occurring after the
statements are made may have on our business.
- We disclaim any intention or obligation to update any forward-looking
statement even if new information becomes available, as a result of
future events or for any other reason.
- Risks that could cause our actual results to differ materially from
our current expectations are discussed in the Risks and Uncertainties
section of our MD&A.
- Further information can be found in the disclosure documents filed by
Chemtrade Logistics Income Fund with the securities regulatory
authorities, available at www.sedar.com.
For further information:
For further information: Mark Davis, President and CEO, Tel: (416)
496-4176; Rohit Bhardwaj, Vice-President, Finance and CFO, Tel: (416)