- Chorus Aviation (CHR) has closed a C$115 million bought deal public offering and a $30 million private placement from AIMCo and NordStar Capital
- The company issued $57.5 million of units from treasury and $57.5 million in debentures to public investors
- Canadian investors will receive Class B Voting Shares while international investors will receive Class A Variable Voting Shares
- In addition, the company issued $15 million of units and $15 million in debentures to AIMCo and NordStar
- Chorus will use the proceeds to purchase additional aircraft, provide additional balance sheet flexibility and repay indebtedness
- Chorus is a global provider of integrated regional aviation solutions
- Chorus Aviation (CHR) is down 2.52 per cent and is currently trading at $4.64 per share
Chorus Aviation (CHR) has closed a C$115 million bought deal public offering and a $30 million private placement from AIMCo and NordStar Capital.
The company’s bought deal public offering consisted of units of Chorus and convertible senior unsecured debentures.
Each unit is comprised of one Class B Voting Share for Canadian investors or one Class A Variable Voting Share for non-Canadian investors, plus one-half of one common share purchase warrant.
Chorus issued $57.5 million of units from treasury and $57.5 million in debentures. This includes $7.5 million of units and $7.5 million in debentures as a result of the full exercise of the over-allotment option granted to the syndicate of underwriters led by RBC Capital Markets.
In addition, Chorus issued $15 million of units and $15 million in debentures to NordStar Capital and the Alberta Investment Management Corporation.
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than $120 billion of assets under management.
NordStar Capital is a long-term focused, relationship-based, innovative funding and advisory services firm.
Chorus will use the proceeds to purchase additional aircraft, provide additional balance sheet flexibility, repay indebtedness and for general corporate purposes.
Chorus is a global provider of integrated regional aviation solutions.
Chorus Aviation (CHR) is down 2.52 per cent and is currently trading at $4.64 per share as of 3:05 pm ET.