Chorus Aviation Inc. (TSX: CHR) has closed its bought deal offering of CDN 75 million aggregate principal amount of senior unsecured debentures at a price of CDN 1,000 per Debenture, the company said.
The net proceeds of the offering will be used to fund the growth of Chorus Aviation Capital, Chorus´ aircraft leasing business, including the acquisition of aircraft intended for or currently on lease to third parties, as well as for working capital requirements and general corporate purposes.
The Debentures bear interest at a rate of 5.75% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, commencing June 30, 2020, and will mature on December 31, 2024. The Debentures will commence trading today on the Toronto Stock Exchange under the symbol CHR.DB.A.
Chorus Aviation is a global provider of integrated regional aviation solutions. Chorus´ vision is to deliver regional aviation to the world. Headquartered in Halifax, Nova Scotia, Chorus comprises Chorus Aviation Capital, a leading, global lessor of regional aircraft, and Jazz Aviation and Voyageur Aviation, companies that have long histories of safe operations.