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MEG Energy Corp Announces Closing Of $400 Million Public Bought Deal Common Share Financing And Concurrent $400 Million Private Placement Common Share Financing

Friday, 28 Dec 2012 10:03am EST 

MEG Energy Corp announced that it has closed its recently announced bought deal financing (the Public Offering) and concurrent private placement (the Private Placement) of common shares. A total of 12,125,000 common shares have been issued pursuant to the Public Offering and 12,121,212 common shares have been issued pursuant to the Private Placement to Caisse de dépôt et placement du Québec, at a price of $33.00 per share, for aggregate gross proceeds of approximately $800 million. The associated over-allotment option granted to the underwriters in connection with the Public Offering can be exercised at any time until and including 30 days from closing. The Public Offering was issued through a syndicate of underwriters co-led by BMO Capital Markets, Credit Suisse Securities (Canada), Inc., Barclays Capital Canada Inc. and RBC Capital Markets and included CIBC World Markets, HSBC Securities (Canada) Inc. and Morgan Stanley CanadaLimited. BMO Capital Markets and Credit Suisse Securities (Canada) Inc. acted as joint agents to MEG on the Private Placement. The net proceeds of the Public Offering and the Private Placement, together with cash on hand and MEG's projected 2013 cash flow, are expected to fully fund MEG's 2013 capital budget. 

Company Quote

26 Nov 2014