logo
Share SHARE
FONT-SIZE Plus   Neg

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

Stone Energy Corp. (SGY) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Two major hospitals Ascension Health and Providence St. Joseph Health are in discussion for merger to create one of the largest hospital chain, reported Wall Street Journal. The combination is expected to have 191 hospitals with an annual revenue of around $45 billion. The new entity would dethrone America's largest hospital operator Hospital Corporation of America that owns 177 hospitals and reve Uber has mistakenly charged a customer in Toronto an astounding C$18,518.50 for a five-mile, 21-minute ride. In U.S. dollar terms, the amount would be more than $14,400. The five-mile ride should have only cost between C$12 and C$16. French baby formula maker Lactalis has issued a major international product recall over fears of salmonella contamination. French health authorities have ordered the dairy company to stop selling hundreds of products worldwide, after 26 infants fell ill with salmonella poisoning in France. Salmonella infections can be life-threatening mainly for young children.
comments powered by Disqus
Follow RTT