Innergex Renewable Energy Inc. has completed its previously announced offering of 5.75% extendible convertible unsecured subordinated debentures for C$70 million. The debentures have an initial maturity date of April 30, which will automatically be extended to April 30, 2017, upon the closing of the company's previously announced strategic combination with Innergex Power Income Fund.
The offering was underwritten by a syndicate of underwriters co-led by BMO Capital Markets and TD Securities Inc., which included CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.
The debentures and the common shares of the company, issuable upon conversion, redemption or maturity of the debentures, have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the U.S. or to, for the account or benefit of, U.S. persons except, and in compliance with, applicable U.S. state securities laws, in certain transactions exempt from the registration requirements of the U.S. Securities Act.
SOURCE: Innergex Renewable Energy Inc.