Aecon announces completion of previously disclosed public offering of convertible debentures
2010年10月8日 - 9:27PM
PR Newswire (Canada)
TORONTO, Oct. 8 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE U.S./ - - exercise of
over-allotment brings total gross proceeds to $92 million - -
TORONTO, Oct. 8 /CNW/ - Aecon Group Inc. (TSX: ARE) today announced
that it has completed the previously announced issuance of
convertible unsecured subordinated debentures on a bought deal
basis to a syndicate of underwriters co-led by GMP Securities L.P.
and TD Securities Inc., and including Raymond James Ltd., CIBC
World Markets Inc., Macquarie Capital Markets Canada Ltd., BMO
Capital Markets, Canaccord Genuity Corp., National Bank Financial
Inc., Paradigm Capital Inc., and Scotia Capital Inc. As a result of
the exercise on closing of the over-allotment option granted to
underwriters, the total gross proceeds of the offering were $92
million. Aecon will use the net proceeds of the offering to help
fund the remaining purchase price payable in connection with the
previously completed acquisition of assets from Cow Harbour
Construction Ltd. The convertible debentures are direct, unsecured
obligations of Aecon which mature on October 31, 2015 and accrue
interest at the rate of 6.25% per annum payable semi-annually. At
the holder's option, the convertible debentures may be converted
into common shares in the capital of Aecon Group Inc. at any time
up to the maturity date at a conversion price of $19.00 per share,
subject to adjustment in certain circumstances. From October 31,
2013 through the maturity date, Aecon may, at its option, redeem
the convertible debentures, in whole or in part, at par plus
accrued and unpaid interest provided that the weighted average
trading price of the common shares on the Toronto Stock Exchange
during a specified period prior to redemption is not less than 125%
of the conversion price. The securities offered have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of such Act. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy the
securities in any jurisdiction. Aecon Group Inc. is Canada's
largest, publicly traded construction and infrastructure
development company. Aecon and its subsidiaries provide services to
private and public sector clients throughout Canada and on a
selected basis internationally. Aecon is committed to safely and
profitably delivering best of class services and products in an
environmentally sensitive manner, and is pleased to be recognized
as one of the 50 Best Employers in Canada. The information in this
press release includes certain forward-looking statements. These
"forward-looking" statements are based on currently available
competitive, financial and economic data and operating plans but
are subject to risks and uncertainties. In addition to general
global events outside Aecon's control, there are factors which
could cause actual results, performance or achievements to vary
from those expressed or inferred herein including risks associated
with an investment in the convertible debentures, or common shares
of Aecon and the risks related to Aecon's business. Risk factors
are discussed in greater detail in the section on "Risk Factors" in
the Final Short Form Prospectus filed on October 1, 2010 and
available at www.sedar.com. Forward-looking statements include
information concerning possible or assumed future results of
operations or financial position of Aecon, as well as statements
preceded by, followed by, or that include the words "believes,"
"expects," "anticipates," "estimates," "projects," "intends,"
"should" or similar expressions. Important factors, in addition to
those discussed in this document, could affect the future results
of Aecon and could cause those results to differ materially from
those expressed in any forward-looking statements. NOT FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
U.S. %SEDAR: 00004778EF Mitch Patten, Senior Vice President,
Corporate Affairs, Aecon Group Inc., 416-297-2615, aecon@aecon.com,
www.aecon.com
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