Boyd Group completes bought deal financing totaling $112.8 million

Winnipeg, Manitoba — October 6, 2014 — Boyd Group has announced that it has closed its previously announced approximate $100 million bought deal financing consisting of 1,181,000 trust units at a price of $42.35 per unit and $50 million aggregate principal amount of 5.25 percent convertible unsecured subordinated debentures due October 31, 2021.

The offering was led by National Bank Financial and Cormark Securities, acting as co-leads and joint bookrunners, and included CIBC World Markets, GMP Securities, Laurentian Bank Securities, Scotia Capital, and Octagon Capital Corporation.

The majority of the net proceeds of the offering is intended to be used by Boyd to repay bank indebtedness under its revolving credit facility as well as to fund acquisitions and for general corporate purposes, allowing Boyd to further strengthen its balance sheet and position it to execute on its growth strategy into the future.

Concurrently with the 0ffering and in a separate transaction, Eddie Cheskis, Chief Executive Officer of Glass America, completed the sale of 200,000 units, on an underwritten block trade basis, at a price of $42.35 per unit for gross proceeds of $8.47 million. Upon completion of this transaction, Cheskis will continue to hold 218,053 Units in the Fund.

For more information, please visit boydgroup.com.


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