New York, Jan. 13 - Harvest Energy Trust priced C$50 million of 9% convertible unsecured subordinated debentures with a 3.7% initial conversion premium.
The deal was increased C$10 million on Tuesday morning from the original C$40 million priced late Monday.
National Bank Financial Inc. was lead manager of the bought deal. The securities were not offered in the United States.
Harvest, a Calgary, Alta., oil and natural gas royalty trust, will use proceeds to repay its $25 million of outstanding equity bridge notes, to repay bank debt and for general corporate purposes.
| Issuer: | Harvest Energy Trust
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| Issue: | Convertible unsecured subordinated debentures
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| Amount: | C$50 million (increased from C$40 million)
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| Greenshoe: | C$10 million
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| Maturity: | May 31, 2009
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| Coupon: | 9%
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| Conversion premium: | 3.7% (over Jan. 12 close)
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| Conversion price: | C$14.00
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 29
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| Lead manager: | National Bank Financial Inc.
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