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Baytex Energy Closes Cdn$632.5 Million Public Offering
- Client News
- April 2, 2015
Paul, Weiss client Baytex Energy Corp., a dividend-paying oil and gas corporation based in Calgary, Alberta, completed a public offering in Canada and the United States of 36.5 million common shares at Cdn$17.35 per share, including 4.8 million common shares pursuant to the full exercise of the over-allotment option. The syndicate of underwriters was co-led by Scotiabank and RBC Capital Markets. The net proceeds of the offering will be used to reduce bank indebtedness, increase working capital and fund ongoing capital expenditures.
The Paul, Weiss team included corporate partner Andrew Foley and counsel Stephen Centa; tax partner David Mayo; and environmental counsel William O'Brien.