New York, Jan. 6 - Versacold Income Fund said it has priced C$30 million principal amount of convertible unsecured subordinated debentures with a 6.25% coupon.
The conversion price is C$10.15 per unit. Versacold stock closed at C$9.09 Thursday.
TD Securities Inc. is lead manager for the bought-deal financing, which has not been registered for sale in the United States.
The deal has a C$4.5 million greenshoe.
Versacold, a Vancouver, B.C., public refrigerated warehousing and distribution company, will use proceeds to expand its public refrigerated warehousing operations in western Canada. Any remaining proceeds will be used to repay bank debt and for general corporate purposes.
| Issuer: | Versacold Income Fund
|
| Issue: | Convertible unsecured subordinated debentures
|
| Amount: | C$30 million
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| Greenshoe: | C$4.5 million
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| Maturity: | Jan. 31, 2010
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| Coupon: | 6.25%
|
| Conversion price: | C$10.15
|
| Conversion premium: | 11.66%
|
| Lead manager: | TD Securities Inc.
|
| Pricing date: | Jan. 6
|
| Settlement date: | Jan. 21
|
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