By Laura Lutz
Des Moines, Oct. 30 - Transeuro Energy Corp. plans to conduct a $15 million private placement of secured bonds, according to a company news release.
The two-year bonds will bear interest at 12% per year, payable semiannually in arrears.
Each $100,000 nominal value of bonds will have 50,000 attached warrants, each exercisable at NOK 3.40 per share.
At total of 7.5 million warrants will be issued. Transeuro will apply to have the warrants listed for trading on the Oslo Axess, the release said.
The placement is expected to settle on Nov. 14.
Pareto Securities ASA acted as agent.
Proceeds will be used for general corporate purposes.
Transeuro is an oil and natural gas company based in Vancouver, B.C.
Issuer: | Transeuro Energy Corp.
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Issue: | Secured bonds
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Amount: | $15 million
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Maturity: | Two years
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Coupon: | 12%
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Price: | Par
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Yield: | 12%
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Warrants: | 50,000 warrants per $100,000 nominal value of bonds
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Warrant strike price: | NOK 3.40
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Agent: | Pareto Securities ASA
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Pricing date: | Oct. 30
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Settlement date: | Nov. 14
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Stock symbol: | TSX Venture: TSU
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Stock price: | C$0.43 at close Oct. 30
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