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Clearwater Completes Redemption of 7.25 per cent Convertible Debentures

Lucy Towers
30 July 2013, at 1:00am

CANADA - Clearwater Seafoods Incorporated has completed the previously announced redemption of C$44.4 million of 7.25 per cent convertible debentures.

The redemption of the Debentures was financed with the proceeds from the new debt facilities which Clearwater announced in a news release on June 25, 2013. No Debenture conversion requests were received and, therefore, the full C$44.4 million face value was paid out to holders of the Debentures.

Ian Smith, Clearwater's CEO commented: "This redemption eliminates Clearwater's high cost debt ensuring we have a competitive cost of capital."