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Eagle Ford Player Baytex Bags $630 Million
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Baytex Energy Corp. has closed the previously announced bought deal financing.
Baytex issued 36,455,000 common shares (the "Common Shares"), including 4,755,000 common shares pursuant to the full exercise of the over-allotment option, at a price of $17.35 per share for aggregate gross proceeds of approximately $632.5 million. The net proceeds from the Equity Financing will be used to reduce bank indebtedness, increase working capital and fund ongoing capital expenditures.
The Common Shares were offered through a syndicate of underwriters co-led by Scotiabank and RBC Capital Markets, and included CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Barclays Capital Canada Inc., Desjardins Securities Inc., Merrill Lynch Canada Inc., Peters & Co…
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