June 25 - Canada's Petrobank Energy and Resources Ltd (PBG.TO) said it plans to offer $300 million of convertible notes due 2015.
The Calgary-based oil and natural gas exploration and production company said the notes, convertible into common shares of Petrobank, are expected to have an annual coupon in the range of 4.75 percent to 5.25 percent.
The company said it has granted an option to ABG Sundal Collier Norge ASA, the sole bookrunner, to increase the size of the offering by up to an additional $100 million.
The offering is being conducted by private placement outside Canada, it said.
Notes are expected to be issued on or about July 10, the company said in a statement.
Shares of the company were down C$1.94, or 5 percent, at C$33.73 in afternoon trade Thursday on the Toronto Stock Exchange.
The Calgary-based oil and natural gas exploration and production company said the notes, convertible into common shares of Petrobank, are expected to have an annual coupon in the range of 4.75 percent to 5.25 percent.
The company said it has granted an option to ABG Sundal Collier Norge ASA, the sole bookrunner, to increase the size of the offering by up to an additional $100 million.
The offering is being conducted by private placement outside Canada, it said.
Notes are expected to be issued on or about July 10, the company said in a statement.
Shares of the company were down C$1.94, or 5 percent, at C$33.73 in afternoon trade Thursday on the Toronto Stock Exchange.
