Exploration & Production
Peyto Repaying Debt with Offering
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Peyto Exploration & Development Corp. has announced that it has closed its previously announced bought deal offering of common shares.
Pursuant to the offering, the Corporation issued 5,037,000 common shares (including 657,000 common shares issued pursuant to the exercise in full of the over-allotment option granted to the underwriters) at a price of $34.25 per common share, for total gross proceeds of approximately $172.5 million.
The syndicate of underwriters was led by BMO Capital Markets and included FirstEnergy Capital Corp., RBC Dominion Securities Inc., CIBC World Markets Inc., Peters & Co. Limited, Scotia Capital Inc., TD Securities Inc., Raymond James Ltd., Canaccord Genuity Corp. and Dundee Securities Ltd.
Net proceeds from the offering will initially be used to partially repay…
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