Northland Power greenshoe lifts 5% convertible sale to C$78.75 million

By Tali Rackner

Norfolk, Va., March 11 - Underwriters for Northland Power Inc.'s 5% series B extendible convertible unsecured subordinated debentures exercised their over-allotment option in full, adding an additional C$3.75 million, according to a press release.

The company priced C$75 million of the five-year convertibles on Feb. 24.

As previously reported, the issues, which are subject to regulatory approval, were sold via a syndicate of underwriters led by CIBC World Markets Inc. and BMO Capital Markets.

Proceeds will be used to fund a portion of Northland's equity commitment and subordinated loan to project Gemini and for general corporate purposes.

Based in Toronto, Northland Power is an independent power producer.

© 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.