Opérations et transactions|28 octobre 2013
Africa Oil closes US$450 million brokered private placement
Torys acted as counsel to the agents led by Citigroup Global Markets, Dundee Securities Europe and Pareto Securities with a team that included Janan Paskaran, Scott Cochlan and Yvan Moquin (Canadian securities), Andy Beck and Christopher Roehrig (U.S. securities).
On October 28, 2013, Africa Oil Corp. (Africa Oil) reported that it closed the US$450,000,000 brokered private placement, previously announced on October 16, 2013. An aggregate of 56,505,217 common shares, issued at a price of SEK 51.75 (C$8.25) per share for gross proceeds of SEK 2,924,144,980 (or US $450 million) equivalent, were released to investors
The common shares were placed on a best efforts basis by a syndicate comprising of Citigroup Global Markets Limited, Dundee Securities Europe LLP and Pareto Securities AS, who together will act as joint bookrunners.
Net proceeds of the private placement will be used to fund the company's future exploration, appraisal and development program in East Africa, as well as for corporate development and general working capital purposes.
Further information can be found on The Wall Street Journal's website.
The common shares were placed on a best efforts basis by a syndicate comprising of Citigroup Global Markets Limited, Dundee Securities Europe LLP and Pareto Securities AS, who together will act as joint bookrunners.
Net proceeds of the private placement will be used to fund the company's future exploration, appraisal and development program in East Africa, as well as for corporate development and general working capital purposes.
Further information can be found on The Wall Street Journal's website.