Tidewater Midstream and Infrastructure (TSE:TWM) has released an update.
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Tidewater Midstream has successfully completed a $100 million offering of convertible debentures, with a plan to redeem $75 million in existing debentures ahead of their September 2024 maturity. These new debentures, which mature in 2029, carry an 8.00% interest rate and are convertible into common shares at $0.78 each. The funds raised are earmarked for corporate purposes and may be used to decrease existing credit agreement debts in the interim.
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