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Cargojet to fully redeem 5¾% hybrid debentures due 2024 on Dec. 29
By Mary-Katherine Stinson
Lexington, Ky., Nov. 14 – Cargojet Inc. announced it will fully redeem its C$86.25 million outstanding 5¾% senior hybrid debentures due April 30, 2024 on Dec. 29, according to a press release.
The redemption will be at par together with accrued interest to the redemption date.
It will be funded by a roughly C$90 million drawdown from the company’s non-revolving delayed-draw term loan facility.
The trustee is not required to transfer or exchange any debentures in the 15 days preceding the scheduled redemption date of Dec. 27.
The debentures are listed on the Toronto Stock Exchange under the symbol “CJT.DB.D” and will be delisted after the redemption.
Computershare Trust Co. of Canada is the trustee.
The company noted that its 5¾% senior hybrid debentures due April 30, 2025 and 5¼% senior hybrid debentures due June 30, 2026 remain outstanding and continue to be listed on the TSX under the symbols “CJT.DB.E” and “CJT.DB.F,” respectively.
Cargojet is a Mississauga, Ont., provider of overnight air cargo services.
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