Tidewater Midstream and Infrastructure (TSE:TWM) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
For further insights into TSE:TWM stock, check out TipRanks’ Stock Analysis page.
