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| Home : Baytex Announces $500 Million Bought Deal Financing |
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Mar 12
2015 |
Baytex Announces $500 Million Bought Deal Financing |
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CALGARY, ALBERTA--(Marketwired - March 11, 2015) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announces that it has entered into an agreement to sell 28,820,000 common shares ("Common Shares") at $17.35 per share (the "Offering Price") to raise gross proceeds of approximately $500 million on a bought deal basis (the "Offering"). The issue will be made through a syndicate of underwriters (the "Underwriters") co-led by Scotiabank and RBC Capital Markets. The net proceeds will be used to reduce bank indebtedness, increase working capital and fund ongoing capital expenditures. The Offering is subject to customary closing conditions, including receipt of applicable regulatory and stock exchange approvals, and is expected to close on or about April 2, 2015. |
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| Source:http://www.marketwired.com/mw/release.do?id=1999634&sourceType=3 |
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