Business
5N Plus Inc. Completes a $60 Million Bought-Deal Offering of Convertible Unsecured Subordinated Debentures
/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES / ...
About this update from 5n Plus Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE\n UNITED STATES/\n\n\nMONTREAL, June 18, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the\n leading producer of specialty metal and chemical products, today\n completed its previously-announced bought-deal offering, under a short\n form prospectus, of convertible unsecured subordinated debentures in an\n aggregate principal amount of $60 million. The debentures were offered\n at a price of $1,000 per debenture in each of the provinces of Canada.\n For the short term, 5N Plus will use the net proceeds of the offering\n to reduce indebtedness under its senior revolving credit facility.\n\n\nThe debentures bear interest at a rate of 5.75% per annum, payable\n semi-annually on June 30 and December 31 each year, commencing on\n December 31, 2014. The debentures are convertible at the holder's\n option into 5N Plus common shares at a conversion price of $6.75 per\n share, representing a conversion rate of 148.1481 5N Plus shares per\n $1,000 principal amount of debentures. The debentures will mature on\n June 30, 2019 and may be redeemed by 5N Plus, in certain circumstances,\n after June 30, 2017.\n\n\n5N Plus has granted an over-allotment option to the underwriters of the\n offering, entitling them to purchase, for a period of 30 days from\n today, up to $6.0 million principal amount of additional debentures at\n the offering price of $1,000 per debenture, to cover over-allotments,\n if any.\n\n\nThis press release shall not constitute an offer to sell or the\n solicitation of an offer to buy any securities in any jurisdiction. The\n debentures being offered, and the common shares issuable upon the\n conversion or redemption of the debentures, have not been and will not\n be registered under the U.S. Securities Act of 1933 or state securities\n laws. Accordingly, the debentures may not be offered or sold to U.S.\n persons except pursuant to applicable exemptions from registration.\n\n\nAbout 5N Plus Inc.\n5N Plus is the leading producer of specialty metal and chemical\n products.  Fully integrated with closed-loop recycling facilities, the\n Company is headquartered in Montreal, Québec, Canada and operates\n manufacturing facilities and sales offices in several locations in\n Europe, the Americas and Asia. 5N Plus deploys a range of proprietary\n and ...