Reuters logo
UPDATE 1-Bellatrix to sell C$55 mln debentures
March 25, 2010 / 1:31 PM / 8 years ago

UPDATE 1-Bellatrix to sell C$55 mln debentures

* Debentures due April 30, 2015

* Interest at 4.75 pct per annum

March 25 (Reuters) - Canada’s Bellatrix Exploration Ltd (BXE.TO) said it would sell debentures worth C$55 million on a bought deal basis and would use the money to repay existing debenture holders.

The Calgary, Alberta-based oil and gas company said debentures, which are due April 30, 2015, will pay interest of 4.75 percent from the date of issue.

The newly issued debentures will be convertible at the holder’s option into common shares of the company at a conversion price of C$5.60 per share, it said.

Bellatrix intends to notify existing debenture holders of the redemption on or following the closing date of the offering.

The company currently has debentures worth about C$84.9 million outstanding, which are due June 30, 2011.

The syndicate of underwriters for the issue is led by National Bank Financial Inc and includes Wellington West Capital Markets Inc, Genuity Capital Markets, and Macquarie Capital Markets Canada Ltd.

Shares of the company closed C$3.91 Wednesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5828; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below