Baytex Announces Completion of Private Placement.CALGARY, Alberta--(BUSINESS WIRE)--Nov. 16, 1998--Baytex Energy Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BTE.A) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :BTE.A) of Calgary, is pleased to announce the completion of a private placement of US $57 million of senior secured term notes. The notes bear interest at 7.23 percent, are repayable in November 2004 and are ranked equally with the Company's banking facilities. Proceeds from this placement have been applied to reduce Baytex's borrowings under its banking facilities. Nesbitt Burns Inc. acted as agent for this transaction. Baytex is an intermediate, oil and gas exploration and production company whose shares are traded on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and The Alberta Stock Exchange under the trading symbol Trading symbol See: Ticker symbol "BTE.A." |
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