On October 16, 2003, Calgary-based Harvest Energy Trust completed a trust unit offering of 4,312,500 units at $12 per unit for gross proceeds of $51.8 million. The offering was underwritten by a syndicate led by National Bank Financial, and included CIBC World Markets Inc., FirstEnergy Capital Corp. and Haywood Securities Inc.
The net proceeds of the offering were used to partially fund the total consideration associated with an acquisition by the trust of properties in south eastern Saskatchewan. In conjunction with the acquisition, Harvest closed a new credit facility with a Canadian-based syndicate of lenders.
The trust was represented by Burnet, Duckworth & Palmer LLP, with a team that included Grant Zawalsky, Keith Greenfield, Shannon Gangl and Jeremy Matthies (corporate/securities), John Brussa (tax) and Cal Johnson (banking). The underwriters were represented by Blake, Cassels & Graydon LLP, with a team that included Scott Cochlan and Dan Mcleod (corporate/securities), Ben Rogers (oil and gas – transaction review) and Kevin Fougere (banking – facility review).
The net proceeds of the offering were used to partially fund the total consideration associated with an acquisition by the trust of properties in south eastern Saskatchewan. In conjunction with the acquisition, Harvest closed a new credit facility with a Canadian-based syndicate of lenders.
The trust was represented by Burnet, Duckworth & Palmer LLP, with a team that included Grant Zawalsky, Keith Greenfield, Shannon Gangl and Jeremy Matthies (corporate/securities), John Brussa (tax) and Cal Johnson (banking). The underwriters were represented by Blake, Cassels & Graydon LLP, with a team that included Scott Cochlan and Dan Mcleod (corporate/securities), Ben Rogers (oil and gas – transaction review) and Kevin Fougere (banking – facility review).
