New York, Dec. 8 - Versacold Income Fund priced C$30 million of convertible unsecured subordinated debentures to yield 6.25%.
The securities convert at a price of C$10.15 per unit. Versacold's units closed at C$9.13 Wednesday.
TD Securities Inc. was lead manager for the bought deal financing, which was not offered publicly in the United States.
Versacold will use proceeds to expand its public refrigerated warehousing business in western Canada. Any remaining proceeds will be used to repay bank debt and for general corporate purposes.
Versacold is a Vancouver, B.C.-based open-end trust that invests in public refrigerated warehousing, distribution and related businesses in Canada and the United States.
| Issuer: | Versacold Income Fund
|
| Issue: | Convertible unsecured subordinated debentures
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| Amount: | C$30 million
|
| Greenshoe: | C$4.5 million
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| Maturity: | Dec. 31, 2009
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| Coupon: | 6.25%
|
| Conversion price: | C$10.15
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| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 23
|
| Lead manager: | TD Securities Inc.
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