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
Toyota Motor Corp. (TM, TYT.L) Thursday announced 1.1 percent decline in worldwide production for October, as there was a sharp decline in production of passenger cars in Japan. Production outside Japan improved 2.3 percent. In a separate announcement, the Japanese automaker said it will recall more... Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%.
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.