08:54 AM EST, 11/04/2025 (MT Newswires) -- Chemtrade Logistics Income Fund (CHE-UN.TO) said Tuesday that $85.6 million of its 2027 debentures were tendered along with $82.5 million of 2028 debentures, under its substantial issuer bid (SIB), which expired on Nov. 3.

The fund will take up $85.63 million of 2027 debentures for $115.7 million. Chemtrade will also take up $8.5 million of the 2028 debentures for $10.45 million in cash. The remaining $73.9 million of the 2028 debentures will be exchanged for $73.9 million in new debentures and $16.6 million in cash.

The new debentures are expected to be listed and will begin trading on the TSX under the ticker "CHE-DB-I" on or about Nov. 6.

"We are pleased with the outcome of the SIBs and the significant reduction in outstanding convertible debentures. In addition to supporting our unit price, these transactions are another successful step in the optimization of our capital structure with the added benefit of substantially reducing a source of potential equity dilution," said chief financial officer Rohit Bhardwaj.

"As a result of these initiatives, we have reduced our convertible debentures outstanding by approximately 90% with approximately $28 million of 2028 maturing convertible debentures outstanding," he added.