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Baytex Energy in $500M bought deal financing

Mar. 11, 2015 5:12 PM ETBaytex Energy Corp. (BTE) Stock, BTE:CA StockBy: Carl Surran, SA News Editor2 Comments
  • Baytex Energy Trust (BTE) -4% AH agrees to sell 28.8M common shares at $17.35 each to raise ~$500M in gross proceeds on a bought deal basis, with an underwriters option to purchase up to an additional 4.32M shares.
  • BTE says it will use the proceeds to reduce bank indebtedness, increase working capital and fund ongoing capital expenditures.

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