NAL Oil & Gas Trust (TSX:NAE.UN) has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets to sell to the public, on a bought deal basis, $100 million principal amount of 6.25% convertible unsecured subordinated debentures.

The press release is quoted as saying:

NAL Oil & Gas Trust provides investors with a yield-oriented opportunity to participate in the Canadian Upstream Conventional Oil and Gas Industry. The Trust generates monthly cash distributions for its Unitholders by pursuing a strategy of acquiring, developing, producing and selling crude oil, natural gas and natural gas liquids from pools in southeastern Saskatchewan, central Alberta, northeastern British Columbia and Lake Erie, Ontario.

Click here to access the entire press release

Click here to access NAL Oil & Gas Trust Corporate Site

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