Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Petrobank Energy and Resources Ltd. > News item |
Petrobank to convert 98% of $250 million convertibles into shares
By Susanna Moon
Chicago, June 16 - Petrobank Energy and Resources Ltd. said holders of $250 million principal amount of its convertible notes agreed to convert $244.9 million principal amount of the notes to common shares.
The amount of notes to be converted to common shares represents 98% of the outstanding notes.
Petrobank said the transaction eliminates $244.9 million of its debt obligations, strengthens its balance sheet and enhances liquidity.
Petrobank is a Calgary, Alta.-based oil and gas exploration and production company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.