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CS - Tidewater offers convertible debt for Pipestone buy - July 2019



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Tidewater Midstream & infrastructure is offering $75 million principal amount of 5.5% unsecured subordinated convertible debentures due 2024 through a bought deal with underwriters led by CIBC and National Bank Financial. The company granted underwriters an overallotment option on up to $11.25 million of the debentures for 30 days. Tidewater will realize net proceeds amounting to 96% of the offering. The debentures will be convertible at $1.86 a share, the company said. Net proceeds will initially be used to repay Tidewater’s credit facility and to fund the $30......
 
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