Chemtrade closes $460M acquisition financing

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.

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal,,, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's, Canada's most sophisticated and advanced all private capital and public market financing database.