Cargojet has closed a C$75 million ($57 million) senior unsecured debenture transaction.

The notes carry an interest rate of 5.75% and mature in April 2024, the Ontario, Canada-based cargo carrier says. The debentures are listed on the Toronto Stock Exchange.

Cargojet will use proceeds to pay down borrowings under its C$400 million revolving credit facility in order to free up capacity for future capital expenditures, including aircraft purchases, it says.

RBC Capital Markets and CIBC Capital Markets were underwriters of the transaction.

Source: Cirium Dashboard