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.
