Jazz Air Income Fund announces increase to its public offering of ConvertibleUnsecured Subordinated Debentures - Nov 25, 2009

Site Header

Site Body

Main Content

News

Jazz Air Income Fund announces increase to its public offering of ConvertibleUnsecured Subordinated Debentures

Nov 25, 2009

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
    CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./

 

HALIFAX, Nov. 25 /CNW/ - Jazz Air Income Fund ("Jazz" or the "Fund" TSX: JAZ.UN) announced today that the syndicate of underwriters led by TD Securities Inc., BMO Nesbitt Burns Inc. CIBC World Markets Inc., and RBC Dominion Securities Inc., and including Beacon Securities Limited, Genuity Capital Markets G.P., Salman Partners Inc. and Versant Partners Inc., have exercised the over-allotment option to purchase an additional $11,250,000 principal amount of 9.50% Convertible Unsecured Subordinated Debentures, increasing the aggregate gross proceeds of the public offering from $75,000,000 to $86,250,000.

The debentures have not been and will not be registered under the United States Securities Act of 1933 and accordingly may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement of such Act. This news release is not an offer of securities for sale in the United States.

 

The Fund is an unincorporated, open-ended trust established under the laws of the Province of Ontario, created to indirectly acquire and hold an interest in the outstanding limited partnership units of Jazz Air LP.

 

Jazz is the second largest airline in Canada based on fleet size and the number of routes operated. Jazz operates more flights and flies to more Canadian destinations than any other Canadian carrier. Jazz forms an integral part of Air Canada's domestic and transborder market presence and strategy.

Jazz is not a typical airline. The airline has a commercial agreement (the "CPA") with Air Canada that is the core of its business. Under the CPA, Air Canada currently purchases substantially all of Jazz's fleet capacity based on predetermined rates. The CPA provides commercial flexibility, low trip costs and connecting network traffic to Air Canada.

For further information: Manon Stuart, (902) 873-5054, Halifax, Nova Scotia, manon.stuart@flyjazz.ca; Debra Williams, (519) 457-8071, London, Ontario, debra.williams@flyjazz.ca; www.flyjazz.ca


Key Contacts
Chorus Aviation Inc.               Transfer Agent:
3 Spectacle Lake Drive       Nathalie Megann       AST Trust Company (Canada)
Suite 100       Vice President, Investor Relations and Corporate Affairs       PO Box 2082, Station C
Dartmouth, NS B3B 1W8       (902) 873-5094       Halifax, NS B3J 3B7
(902) 873-5000       nathalie.megann@chorusaviation.com       1-800-387-0825
investorsinfo@chorusaviation.com               inquiries@astfinancial.com
© Copyright 2019 Chorus Aviation