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Targa Resources Corp. Announces $500 Million Private Placement of 9.5% Series A Preferred Stock

Thursday, 18 Feb 2016 09:05am EST

Targa Resources Corp:received binding commitments for the purchase of approximately $500 million of 9.5% Series A Preferred Stock (the "Preferred Stock") from investment vehicles affiliated with Stonepeak Infrastructure Partners.Stonepeak will acquire 500,000 newly authorized shares of 9.5% Series A Preferred Stock at a net price to Targa of $1,000 per share.The Preferred Stock can be redeemed in whole or in part at Targa's option after 5 years, and can be converted into Targa common stock in 2028 by Stonepeak or under certain circumstances by the Company.Stonepeak will also receive approximately 7,020,000 warrants with a strike price of $18.88 per common share and 3,385,000 warrants with a strike price of $25.11 per common share.The warrants have a seven year term. Per the terms of the agreement, Stonepeak will appoint Scott Hobbs, a Stonepeak operating partner, to Targa's board of directors as an observer.Expects to use the net proceeds of the private placement to repay indebtedness and for general corporate purposes. Targa Resources Partners LP's pro forma leverage ratio is 3.6 times versus its year-end 2015 leverage ratio of 3.9 times.Targa's pro forma liquidity increases from $1.7 billion to $2.2 billion.Vinson & Elkins L.L.P. served as legal counsel to the Company and Sidley Austin LLP served as legal counsel to Stonepeak.

Amber Grid AB concludes loan agreement with EIB

Monday, 21 Dec 2015 09:53am EST

Amber Grid AB:Says ‍Amber Grid and European Investment Bank (EIB) concluded an agreement on up to 28 million euro loan​.Loan will be used for financing construction of project capacity enhancement of Klaipeda-Kiemenai pipeline​.

NIPPON GAS updates disposal of treasury stock

Monday, 7 Dec 2015 02:45am EST

NIPPON GAS CO LTD:To distribute 7,951,000 shares of its treasury common stock at paid-in price of 2,445.48 yen per share or about 19,444,011,480 yen in total.Payment date Dec. 14.

NIPPON GAS announces disposal of treasury stock

Friday, 27 Nov 2015 01:30am EST

NIPPON GAS CO LTD:To distribute 7,951,000 shares of its treasury common stock.To raise up to 2.5 billion yen in total.Details to be decided.

Westcoast Energy Inc. Announces Preferred Share Issue

Tuesday, 24 Nov 2015 09:21am EST

Westcoast Energy Inc:entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and Scotiabank.underwriters have agreed to buy 4,000,000 Cumulative 5-Year Minimum Rate Reset Redeemable First Preferred Shares, Series 10 (the "Series 10 First Preferred Shares") at a price of $25.00 per share for aggregate gross proceeds of $100,000,000.proceeds are expected to be used to refinance upcoming debt maturities and for general corporate purposes.

Grandblue Environment announces private placement

Monday, 16 Nov 2015 07:00pm EST

Grandblue Environment Co., Ltd:To issue up to 77,824,266 A shares of its common stock through private placement, at 11.95 yuan per share.19,246,861 new shares will be issued to a Foshan-based fuel gas company, 50,209,205 new shares will be issued to a Shanghai-based investment company and the other 8,368,200 new shares will be issued to a Foshan-based investment company.To raise up to 930 million yuan in total.Proceeds raised will be used to acquire 30 pct stake in Foshan-based company, invest in household refuse incineration power generation project and repay bank loan.

American Midstream Partners, LP announces public offering of common units

Wednesday, 9 Sep 2015 04:13pm EDT

American Midstream Partners, LP:Announces public offering of common units.Says has commenced an underwritten public offering of 7.5 million of its common units.Says to use net proceeds from offering to fund a portion of the purchase price of an equity interest in a Delaware limited.Says will use proceeds of this offering to repay a portion of outstanding borrowings under its credit facility.

NIPPON GAS announces private placement of treasury stock

Wednesday, 29 Jul 2015 03:45am EDT

NIPPON GAS CO LTD:To distribute 291,300 shares of its treasury common stock at 3,776 yen per share through private placement to The Master Trust Bank of Japan, Ltd.To raise 1,099,948,800 yen in total through private placement.Says placement date is Sep. 14.

Wentworth Resources successfully raises $7.64 million

Friday, 26 Jun 2015 09:15am EDT

Wentworth Resources Ltd:Private placement of 15.4 million new shares, representing 9.9 pct of existing issued share capital, to raise $7.64 million.Placing price represents a premium of 8.8 pct to 3-month volume weighted average share price.Says new funds provide the company with sufficient working capital beyond its projected receipt of first cashflow for gas sales from its Mnazi Bay concession.Expects to start receiving cash flow from gas sales to new pipeline in Q4 2015.


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