Chemtrade Logistics Income Fund (TSX: CHE.UN) has completed its previously announced bought deal offering of 21.8 million subscription receipts at $18.35 per subscription receipt for gross proceeds of approximately $400 million.
Net proceeds of the offering will be used to partially fund Chemtrade’s previously announced acquisition of Canexus Corporation (TSX: CUS) which is expected to close in the first quarter of 2017.
The offering was led by BMO Capital Markets. Osler, Hoskin & Harcourt LLP and Torys LLP acted as legal counsels to Chemtrade and the underwriters respectively.