New York, June 17 - APF Energy Trust said Tuesday it priced C$50 million of convertible debentures to yield 9.4%.
The convertibles were sold on a bought-deal basis via underwriters led by Scotia Capital Inc. The syndicate also included CIBC World Markets Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., Canaccord Capital Corp., Dundee Securities Corp., Research Capital Corp. and Griffiths McBurney & Partners. The convertibles will be offered in all provinces in Canada and under Rule 144A in the U.S.
Proceeds will be used to help fund the acquisition of a 17% interest in the Swan Hills Unit No.1, for acquisitions of other minor properties and initially as a temporary repayment of its indebtedness.
APF is buying the Swan Hills interest for C$91.75 million.
APF Energy Trust is a Calgary-based conventional oil and gas royalty trust.
APF units closed at C$10.99, up from $10.85 at Monday's close.
| Issuer: | APF Energy Trust
|
| Issue: | Convertible debentures
|
| Amount: | C$50 million
|
| Maturity: | July 31, 2008
|
| Coupon: | 9.40%
|
| Conversion price: | C$11.25
|
| Settlement: | July 3
|
| Lead manager: | Scotia Capital
|
|
|
© 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.
