On June 21, 2010, Student Transportation Inc. (TSX:STB) completed its offering of 6.75% convertible subordinated unsecured debentures due June 30, 2015 at a price of $1,000 per debenture for total gross proceeds of $50 million. The offering was underwritten by a syndicate of underwriters led by Scotia Capital Inc. and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., Wellington West Capital Markets Inc., Raymond James Ltd. and Cormark Securities Inc.
The net proceeds from the offering will be used to repay indebtedness under the Company’s credit facilities and for general corporate purposes. The securities offered have not been and will not be registered under the United States Securities Act.
Student Transportation Inc., formerly Student Transportation of America Ltd., is a provider of school bus transportation services, operating more than 6,300 vehicles.
Further information is found on Student Transportation's website.