GREY:TBTEF - Post by User
Post by
blondeBondon Dec 13, 2013 8:58am
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Post# 22002298
debenture deal done
debenture deal done Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte") is pleased to announce that it has closed its previously announced offering (the "Offering") of $85 million aggregate principal amount of 6.25% convertible unsecured subordinated debentures of Twin Butte, due December31, 2018 (the "Debentures") at a price of $1,000 per Debenture. The Offering was completed through a syndicate of underwriters that was co-led by National Bank Financial Inc. and Peters & Co. Limited.
The net proceeds of the Offering will be used to reduce bank indebtedness providing Twin Butte with additional financial flexibility through the diversification of its indebtedness and interest rate certainty on a portion of its core debt.