MEG Energy Closes $800M Bought Deal, Private Placement Financings
MEG Energy Corp. (MEG.TO) has closed its recently announced public bought deal financing and concurrent private placement of common shares. A total of 12,125,000 common shares have been issued pursuant to the public offering and 12,121,212 common shares have been issued pursuant to the private placement to Caisse de depot et placement du Quebec, at a price of $33.00 per share, for aggregate gross proceeds of approximately $800 million.
The net proceeds of the public offering and the private placement, together with cash on hand and MEG's projected 2013 cash flow, are expected to fully fund MEG's 2013 capital budget.
MEG shares were off 18 cents at $31.27.
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