By SeafoodSource staff
Published on 28 July, 2013
Clearwater Seafoods on Monday reported it completed the redemption of CAD 44.4 million (USD 43.3 million, EUR 32.6 million) of 7.25 percent convertible debentures.
The redemption was financed with the proceeds from the new debt facilities; no debenture conversion requests were received, so the full CAD 44.4 million was paid out to holders.
“This redemption eliminates Clearwater’s high cost debt ensuring we have a competitive cost of capital,” said Ian Smith, CEO.