Halifax (pcJ News Brief) – Chorus Aviation Inc. (TSX: CHR) has issued all of the remaining convertible debt units to subsidiaries of Fairfax Financial Holdings Limited (TSX: FFH) originally announced in the news release dated December 19, 2016.
Pursuant to the final tranche closing, Chorus issued $150,000,000 principal amount of 6.00% senior debentures due December 31, 2024 to Fairfax for gross proceeds of $150,000,000. Together with the $50,000,000 principal amount of debentures issued on March 6, 2017, Chorus has now issued all of the debentures originally announced. Furthermore, all 24,242,424 warrants issued by Chorus to Fairfax on March 6, 2017 will be exercisable at any time after December 31, 2019, or earlier in certain circumstances in accordance with the terms of the warrants.
photo credit: Chorus Aviation