Anderson greenshoe fully exercised, lifts convertibles to C$46 million

By Devika Patel

Knoxville, Tenn., June 8 - Underwriters for Anderson Energy Ltd.'s offering of 7.25% six-year convertible unsecured subordinated debentures exercised their over-allotment option in full for C$6 million more of the debentures, increasing the size of the issue to C$46 million, the company said in a press release.

As previously reported, the company sold the debentures at par in a Regulation S offering on May 18 via a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets.

The debentures, which mature on June 30, 2017, will be convertible at a conversion price of C$1.70 per common share.

The securities are non-callable until June 30, 2014 and then are provisionally callable for two years at 125% of the conversion price.

Proceeds will be used to repay debt and for general corporate purposes.

Based in Calgary, Alta., Anderson is an oil and natural gas exploration and development company.

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