Caisse de depot et placement du Quebec buys 12,121,212 common shares
By Devika Patel
Knoxville, Tenn., Dec. 10 - MEG Energy Corp. said it will conduct a C$400 million private placement of stock with Caisse de depot et placement du Quebec. It also plans a C$400 million public offering of stock with a C$60 million greenshoe through a short form prospectus.
The company will sell 12,121,212 common shares at C$33.00 per share. The price per share is a 4.95% discount to the Dec. 7 closing share price of C$34.72.
In the public sale, the company will sell 12,125,000 shares at the same price on a bought deal basis through a syndicate of underwriters co-led by BMO Capital Markets, Credit Suisse Securities (Canada), Inc., Barclays Capital Canada Inc. and RBC Capital Markets.
Settlement of both offerings is expected Dec. 28.
Proceeds will fund MEG's 2013 capital budget.
MEG Energy is a Calgary, Alta.-based oil sands development company.
| Issuer: | MEG Energy Corp.
|
| Issue: | Common shares
|
| Amount: | C$400 million
|
| Shares: | 12,121,212
|
| Price: | C$33.00
|
| Warrants: | No
|
| Investors: | Caisse de depot et placement du Quebec
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 28
|
| Stock symbol: | Toronto: MEG
|
| Stock price: | C$34.72 at close Dec. 7
|
| Market capitalization: | C$6.57 billion
|
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