Peyto Energy Trust

June 26, 2009 08:42 ET

Peyto Energy Trust Announces Closing of $94.5 Million Bought Deal Financing

CALGARY, ALBERTA--(Marketwire - June 26, 2009) -


Peyto Energy Trust ("Peyto") (TSX:PEY.UN) is pleased to announce that it has closed its previously announced offering of 9,000,000 trust units on a bought deal basis (including 900,000 trust units issued pursuant to the partial exercise of the over-allotment option granted to the underwriters) at $10.50 per trust unit for total gross proceeds of $94,500,000. The syndicate of underwriters was led by BMO Capital Markets, and included RBC Capital Markets, FirstEnergy Capital Corp., CIBC World Markets Inc., HSBC Securities (Canada) Inc., Peters & Co. Limited, Haywood Securities Inc. and Canaccord Capital Corporation.

Net proceeds from the offering will initially be used to pay down outstanding bank debt, and subsequently to fund Peyto's on-going capital expenditures and for general corporate purposes.

Peyto is a natural gas weighted energy trust and is committed to maintaining its emphasis on building value through the exploration and development of high quality gas properties.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

This press release contains forward-looking statements including statements concerning the anticipated use of the net proceeds of the offering. The intended use of the net proceeds of the offering might change if the board of directors of Peyto Energy Administration Corp., the administrator of Peyto, determines that it would be in the best interests of Peyto to deploy the proceeds for some other purpose. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Peyto's control. Accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. Peyto disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Contact Information

  • Peyto Energy Trust
    Darren Gee
    President and Chief Executive Officer
    (403) 237-8911
    (403) 451-4100 (FAX)