Published on 1/14/2005 in the Prospect News PIPE Daily.
New Issue: Endeavour upsized private placement $65 million convertible at 6.0% yield, up 35%
Nashville, Jan. 14 - Endeavour International Corp. sold an upsized $65 million of seven-year convertible notes at par to yield 6.0% with a 35% initial conversion premium via placement agent JPMorgan Securities.
The issue was upped from $50 million.
Endeavour, a Houston-based oil and gas company, said proceeds would be used to fund expenditures for oil and gas properties, for working capital and for general corporate purposes, which may include acquisitions.
Terms of the deal are:
Issuer: | Endeavour International Corp.
|
Issue: | Convertible senior notes
|
Placement agent: | JPMorgan Securities
|
Amount: | $65 million, up from $50 million
|
Greenshoe: | $16.25 million, up from $10 million
|
Maturity: | January 2012
|
Coupon: | 6.0%
|
Price: | Par
|
Yield: | 6.0%
|
Conversion premium: | 35%
|
Conversion price: | $5.02
|
Conversion ratio: | 199.2032
|
Call: | Non-callable for 7 years
|
Pricing date: | Jan. 13, after market close
|
Distribution: | Private placement section 4(2)
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.