Cargojet issue $100M of unsecured debt 

Cargojet has entered into an agreement with a syndicate of underwriters, co-led by RBC Capital Markets, CIBC Capital Markets and Scotiabank, for purchase of C$100M listed senior unsecured hybrid debentures due June 30, 2026 at a price of C$1,000 per debenture. Underwriters have an option to purchase additional C$15M, while offering is expected to close on or about July 16, 2020. An interest rate of 5.25% pa is applicable on the debentures, payable semi-annually every year. Proceeds will be used to pay down the company’s revolving credit facility and free the funds for future estimated capital expenditure.