NAL Oil & Gas Trust Closes $115M Convertible Debenture Offering

NAL Oil & Gas Trust completed a bought deal offering on December 3, 2009, of $115-million aggregate principal amount of 6.25 per cent convertible unsecured subordinated debentures. The offering included the exercise, in full, of the over-allotment option granted to the underwriters under the offering. RBC Capital Markets and BMO Capital Markets co-led the syndicate of underwriters, which included CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, Raymond James Ltd. and Peters & Co. Limited.

NAL was represented by Bennett Jones LLP with a team that included John Kousinioris, Jon Truswell, Timothy Robson and Matthew Olson.

The underwriters were represented by Fraser Milner Casgrain LLP with a team that included Toby Allan and Keith Inman (securities) and Derek Kurrant (tax).