Company also to conduct C$20.78 million bought-deal offering of stock
By Devika Patel
Knoxville, Tenn., Nov. 19 - NuVista Energy Ltd. said it plans a C$63.99 million private placement of stock.
The company will sell 13.06 million common shares at C$4.90 apiece, a 1.8% discount to the Nov. 16 closing share price of C$4.99.
The deal will be conducted with investors Franklin Templeton Investments Corp., Ontario Teachers' Pension Plan Board and Caisse de depot et placement du Quebec.
The company also plans to raise C$20.78 million on a bought-deal basis through a syndicate of underwriters led by led by Peters & Co. Ltd. and including BMO Capital Markets, CIBC World Markets Inc., FirstEnergy Capital Corp., RBC Capital Markets Corp., Scotia Capital Inc., and TD Securities Inc. The shares in the bought-deal will be sold at the same price.
Settlement of both offerings is expected Dec. 11.
Proceeds will be used to pay down bank debt and to fund an expanded 2013 Wapiti Montney capital program.
Calgary, Alta.-based NuVista is an oil and natural gas exploration, development and production company with properties located in east central Alberta and west central Saskatchewan.
| Issuer: | NuVista Energy Ltd.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$63,994,000
|
| Shares: | 13.06 million
|
| Price: | C$4.90
|
| Warrants: | No
|
| Investors: | Franklin Templeton Investments Corp. (for C$17.15 million), Ontario Teachers' Pension Plan (for C$16,856,000) and Caisse de depot et placement du Quebec Board (for C$29,988,000)
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 11
|
| Stock symbol: | Toronto: NVA
|
| Stock price: | C$4.99 at close Nov. 16
|
| Market capitalization: | C$498.01 million
|
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