Chorus Aviation has completed the redemption of its remaining 6.00% convertible senior unsecured debentures due June 30, 2026. The redemption was completed on Tuesday (September 30).
On August 5, 2025, Chorus issued a notice of redemption to the holders of the debentures to redeem the remaining issued and outstanding debentures at a redemption price equal to their principal amount, plus accrued and unpaid interest thereon up to, but excluding, the redemption date.
Holders of the debentures had the option to convert such debentures into Class A variable voting shares or Class B voting shares of Chorus.
This could be done by submitting a conversion notice and all necessary documentation on or before September 8, 2025. However, none of the debentures were converted into shares.
On the redemption date (September 30), holders of the debentures received $1,015 for each $1,000 principal amount of debentures.
This represents their principal amount, plus all accrued and unpaid interest thereon to but excluding the redemption date.
Chorus redeemed debentures in the principal amount of $28.72 million.
As a result of the redemption, the debentures, which traded on the Toronto Stock Exchange (TSX) under the ticker CHR.DB.B, ceased trading and have been delisted from the TSX.
Chorus is a holding company which owns Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand.
It also owns Voyageur Aviation, Cygnet Aviation Academy, and Elisen & Associates.