By Devika Patel
Knoxville, Tenn., Jan. 4 - Railpower Technologies Corp. completed a C$35 million private placement of a convertible debenture with Ontario Teachers Pension Plan Board.
The five-year note has a 5% coupon, payable semi-annually in either cash or common shares, at Railpower's option. The conversion price is C$0.30 per share.
Based in Toronto, Railpower produces energy technology systems for the transportation sector.
| Issuer: | Railpower Technologies Corp.
|
| Issue: | Convertible debenture
|
| Amount: | C$35 million
|
| Maturity: | Five years
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Conversion price: | C$0.30
|
| Warrants: | No
|
| Investor: | Ontario Teachers Pension Plan Board
|
| Settlement date: | Jan. 4
|
| Stock symbol: | Toronto: P
|
| Stock price: | C$0.73 at close Jan. 3
|
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