Published on 11/19/2002 in the Prospect News Convertibles Daily.
New Issue: Magna Entertainment $50 million convertibles yield 7.25%
New York, Nov. 19 - Magna Entertainment Corp. priced $50 million of seven-year convertible subordinated notes to yield 7.25% in a Rule 144A offering.
The Aurora, Ont. horse track operator will use proceeds for general corporate purposes including capital expenditures.
| Issuer: | Magna Entertainment Corp.
|
| Issue: | Convertible subordinated notes
|
| Amount: | $50 million
|
| Greenshoe: | $25 million
|
| Maturity: | Dec. 15, 2009
|
| Coupon: | 7.25%
|
| Settlement: | Dec. 2
|
| Conversion price: | $8.50
|
| Call: | Dec. 21, 2005 onwards at par, subject to 125% hurdle until Dec. 15, 2007
|
|
|
© 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.
