| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for NGP Capital Resources Co. > News item |
NGP pays $6.9 million for $8 million of GMX 5% convertibles due 2013
By Toni Weeks
San Diego, Sept. 1 - NGP Capital Resources Co. said that it paid $6.9 million for an additional $8 million face amount of GMX Resources, Inc. 5% senior convertible notes due Feb. 1, 2013 in August, according to a filing with the Securities and Exchange Commission.
The company said that its estimated yield to maturity on the newly purchased convertibles is about 16.3% and that its total position in the GMX Resources 5% convertibles is now $12.7 million, with a total cost of $10.6 million.
NGP is an Irving, Texas-based closed-end non-diversified management investment 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.