Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Stone Energy Prices Private Offering Of $275 Mln Of Convertible Notes

RELATED NEWS
Trade SGY now with 

Stone Energy Corp. (SGY: Quote) has priced its private offering of $275 million aggregate principal amount of Convertible Notes due 2017. The private offering was upsized from the earlier announced $250 million aggregate principal amount of Convertible Notes.

The company has granted an over-allotment option to the initial purchasers for up to an additional $25 million aggregate principal amount of Convertible Notes, while the Convertible Notes would pay interest semiannually at a rate of 1.75% and would be convertible into cash, shares of the company or a combination of cash and common shares of the company, at the cmpany's election, based on the applicable conversion rate at such time.

The Convertible Notes would mature on March 1, 2017, unless repurchased or converted in accordance with their terms prior to such date. Stone Energy may close the offering on or about March 6, 2012.

Click here to receive FREE breaking news email alerts for Stone Energy and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks saw some volatility following the release of the Federal Reserve's monetary policy announcement on Wednesday but managed to end the day modestly higher. With the upward move, the Dow reached a new record closing high. President Barack Obama sought to emphasize in remarks on Wednesday that the American forces being deployed as part of the fight against the terrorist group ISIS will not have a combat mission. Republican Joni Ernst has moved into the lead in the potentially crucial Iowa Senate race, according to the results of a Quinnipiac University poll released on Wednesday. The poll found that 50 percent of likely Iowa voters would support Ernst if the election were held today, while 44 percent would vote for Democratic Rep. Bruce Braley.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.