Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tenders > News item |
Capstone subsidiary makes offer for 6.75% convertible debentures
By Jennifer Chiou
New York, Oct. 29 - Capstone Infrastructure Corp. wholly owned subsidiary Renewable Energy Developers Inc. announced the start of its change-of-control offer for its 6.75% convertible unsecured subordinated debentures due Dec. 31, 2017.
The offer is in connection with the recently completed plan of arrangement under which Capstone acquired all of Renewable Energy Developers' outstanding common shares.
The subsidiary is offering 101% of par plus accrued interest for the $34.5 million aggregate principal amount of debentures.
The offer will end at 5 p.m. ET on Dec. 11.
According to a news release, if 90% or more of the debentures are tendered for purchase, Renewable Energy Developers will have the right to call the remaining securities.
Toronto-based Capstone, formerly Macquarie Power and Infrastructure Corp., maintains a portfolio of infrastructure businesses in Canada and internationally, including investments in gas cogeneration, wind, hydro and biomass power generating facilities.
© 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.