New York, March 2 - Taylor NGL LP said it priced C$50 million of 5.85% convertible unsecured subordinated debentures as part of the C$170 million financing for its C$189 million acquisition of the Harmattan Gas Processing Complex.
Taylor, a Calgary, Alta., operator of natural gas processing facilities and pipelines, also sold 13 million partnership units at C$9.25 per unit and obtained a credit facility.
CIBC World Markets Inc. was lead manager for the bought deal financing, which was offered through a short-form prospectus in all provinces of Canada except Quebec. Clarus Securities Inc., National Bank Financial Inc., RBC Capital Markets, Peters & Co. Ltd. and First Associates Investments Inc. also participated in the syndicate.
The debentures convert at C$10.35, 11.9% over the price at which the units were sold.
| Issuer: | Taylor NGL LP
|
| Issue: | Convertible unsecured subordinated debentures
|
| Amount: | C$50 million
|
| Maturity: | Sept. 10, 2010
|
| Coupon: | 5.85%
|
| Conversion price: | C$10.35
|
| Settlement date: | March 22
|
| Lead manager: | CIBC World Markets Inc.
|
|
|
© 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.
