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RBC Capital Markets will lead a syndicate of underwriters to purchase and sell $50 million units of Chorus at $4.60 per unit and $50 million of convertible senior unsecured debentures at $1,000 each with interest of six per cent per year. Gross proceeds could be as high as $115 million if an over-allotment option is exercised. Chorus also entered into agreements with Alberta Investment Management Corp. and Torstar owner NordStar Capital to purchase $15 million of units and $15 million of debentures. Net proceeds will be used to purchase additional aircraft to expand its regional aircraft leasing business and contracted flying operations, provide financial flexibility and repay debt, the company said in a news release. ....
Chorus Aviation to get cash infusion to help weather COVID-19 challenges, pay debt A plane is silhouetted as it takes off from Vancouver International Airport in Richmond, B.C., on May 13, 2019. THE CANADIAN PRESS/Jonathan Hayward March 16, 2021 - 3:32 PM HALIFAX - As the airline industry continues to struggle with plummeting passenger volumes and no government bailout plan, Halifax-based Chorus Aviation Inc. announced Tuesday a pair of transactions to provide the company with cash it needs during pandemic-related challenges. The company says it will receive gross proceeds of up to $130 million from a secondary offering and a private placement. RBC Capital Markets will lead a syndicate of underwriters to purchase and sell $50 million units of Chorus at $4.60 per unit and $50 million of convertible senior unsecured debentures at $1,000 each with interest of six per cent per year. ....
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Chorus Aviation to get cash infusion to help weather COVID-19 challenges, pay debt - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.
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