Chorus Aviation Inc T.CHR

Alternate Symbol(s): CHRRF | T.CHR.DB.B | T.CHR.DB.C | T.CHR.DB.A

Industrials Airlines

Chorus Aviation Inc. is a global aviation solutions provider and asset manager, focused on regional aviation. The Company’s primary business activities include contract flying, managing aircraft on behalf of fund investors and other third-party aircraft investors and/or owners, as well as maintenance, repair and overhaul services and pilot training. The Company operates through Regional Aviation Services segment. The Company offers contracted flying services within North America and also provides medical, logistical and humanitarian flight operations to Canadian and international customers. Its subsidiaries include Jazz Aviation LP, a regional airline in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation Corp., a provider of specialty charter, aircraft modifications, parts provisioning and in-service support services, and Cygnet Aviation Academy, an accredited training academy preparing pilots for direct entry into airlines.

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Chorus Aviation Inc

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Post by zack50on Dec 31, 2021 1:37pm

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Post# 34274413

CHR announces partial redemption of 6% Senior Debentures...

01:06 PM EST, 12/31/2021 (MT Newswires) -- Chorus Aviation Inc. (CHR.TO) has redeemed $85 million principal amount of its 6% senior debentures due Dec 31, 2024. As a result of this redemption, $115 million aggregate principal amount of 6.00% debentures currently remain outstanding.

The debentures were redeemed at par plus accrued and unpaid interest and was funded using the net proceeds of the 5.75% senior unsecured debentures due June 30, 2027 (issued by Chorus on Sept 27, 2021), as well as available cash resources.

The 6.00% debentures are secured by certain Dash 8-100s and Dash 8-300s and real estate property owned by Chorus' subsidiaries. The collateral security will be released upon the earlier of (i) Fairfax Financial Holdings (FFH.TO) ceasing to own all of the issued and outstanding 6.00% debentures and (ii) the redemption of all of the 6.00% debentures.

In connection with the issuance of the 6.00% debentures, Chorus issued 24.24 million warrants to Fairfax entitling the holder to acquire, on exercise of each warrant and subject to certain adjustments, one Class A variable voting share or Class B voting share of Chorus at a price of $8.25 per share.

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