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CANADIAN ENERGY FUND-RAISERS MAKE FOR RECORD YEAR--C$15.8 BILLION
- Article from:
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Hart's Petroleum Finance Week
- Article date:
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February 7, 2005
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Copyright informationCopyright Phillips Business Information, LLC Feb 7, 2005. Provided by ProQuest LLC. (Hide copyright information)
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Canadian energy companies raised C$15.8 billion in 2004--a new record, according to Brent Heinz, an associate with Calgary-based Sayer Securities Ltd. Bumped to the No. 2 slot is the C$11.5 billion of financings of 2003.
And the record-setting in 2004 didn't end there, Heinz adds in his year-end review. New high-water marks were made in number of equity offerings (595), value of flow-through offerings (C$774 million) and debt placements (C$7.1 billion).
Equity sales. Nearly a third--C$4.9 billion--of the 2004 fund- raising was from equity sales, up from C$2.9 billion in 2003. "One of the main contributors to the large equity total was companies raising funds for oil-sands ...