Chemtrade Logistics Income Fund (Chemtrade) announced that it has successfully completed its previously announced sale of its Potassium Chloride (KCl), Caustic Pellets and Vaccine Adjuvants businesses to Vertellus, a leading U.S.-based manufacturer of specialty products and ingredients, for approximately US$155 million, subject to customary closing adjustments.

With the closing of this transaction, Chemtrade will use the net proceeds of the sale to reduce bank debt. Based upon the midpoint of guidance for 2021 provided by Chemtrade in August 2021, and after making a pro-forma adjustment for the loss of a full year’s EBITDA of the disposed businesses, this repayment will reduce Chemtrade’s senior Debt:EBITDA ratio by approximately 0.7 times.