NUMAC OIL <NMC> HAS 59.7 MLN DLR FINANCING
Numac Oil and Gas Ltd said it
arranged a 59.7 mln dlr financing with two investment dealers.
    The financing includes 30 mln dlrs of convertible
subordinated debentures and 2.7 mln common shares at a price of
11 dlrs per share for a total of 59.7 mln dlrs
    Wood Gundy Inc and Gordon Capital Corp agreed to buy the
securities. The debentures will be for a term of 15 years with
a seven pct coupon and convertible into common shares for 10
years at 13.50 dlrs per share. The debentures are not
redeemable for three years, Numac said.
 Reuter
