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Cadence 4.75% notes are convertible into Barrick shares in two weeks
By Susanna Moon
Chicago, Dec. 1 - Barrick Gold Corp. said holders may convert Cadence Energy Inc.'s 4.75% convertible unsecured subordinated debentures due 2012 beginning on Dec. 16 in connection with the dividend payments on Barrick shares.
The notes are convertible at a rate of 19.52 Barrick shares for each $1,000 principal amount, according to a company press release.
Barrick is a Toronto-based gold mining company.
On Aug. 8, 2008 Cadence Energy said it amended the 4.75% convertibles so that they are convertible into Barrick shares due to a change-of-control event in which Barrick acquired all of Cadence's shares at C$6.75 per share.
Cadence Energy, formerly Kereco Energy Ltd., is a Calgary, Alta.-based junior light oil and natural gas exploration, development and production company.
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