Opérations et transactions|13 décembre 2013
Twin Butte Energy closes C$85 million bought deal convertible debenture offering
Torys acted as counsel to the underwriters led by National Bank Financial and Peters & Co. with a team that included Scott Cochlan, Janan Paskaran, Yvan Moquin and Christopher Roehrig.
On December 13, 2013, Twin Butte Energy Ltd. (Twin Butte) announced that it closed its previously announced offering of C$85 million aggregate principal amount of 6.25% convertible unsecured subordinated debentures, due December 31, 2018 at a price of C$1,000 per debenture. The offering, announced November 25, 2013, was completed through a syndicate of underwriters that was co-led by National Bank Financial Inc. and Peters & Co. Limited.
The net proceeds of the offering will be used to reduce bank indebtedness, providing Twin Butte additional financial flexibility through the diversification of its indebtedness and interest rate certainty on a portion of its core debt.
Twin Butte is a value oriented, intermediate producer with a significant and growing scalable and repeatable drilling inventory focused on large original oil in-place conventional medium and heavy oil exploitation.
Further information can be found on Canada Newswire's website.
The net proceeds of the offering will be used to reduce bank indebtedness, providing Twin Butte additional financial flexibility through the diversification of its indebtedness and interest rate certainty on a portion of its core debt.
Twin Butte is a value oriented, intermediate producer with a significant and growing scalable and repeatable drilling inventory focused on large original oil in-place conventional medium and heavy oil exploitation.
Further information can be found on Canada Newswire's website.