Peyto Energy Trust (TSX: PEY.UN) has entered an agreement with a team of underwriters led by BMO Capital Markets, under which the underwriters agreed to purchase 4,840,000 trust units from the trust and sell to the public at a price of $13.45 per trust unit, representing a total amount of about $65 million.
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The trust granted the underwriters an option, exercisable at any time until 30days after the closing of the offering, to purchase up to an additional 15% of the offering to cover over-allotments.
Peyto Energy Trust offers a Distribution Re-Investment Plan (DRIP) and enhancing this an Optional Trust Unit Purchase Plan (OTUPP) that allows unit holders to purchase units directly from the treasury at a price determined at the end of each month and transacted at the regular distribution date.
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