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Gaz Métro completes private placement of 4,545,455 units

Gaz Métro LP has completed a private placement offering of 4,545,455 units at C$22 apiece.

The units were issued to Valener Inc. and Gaz Métro Inc. for aggregate gross proceeds of approximately C$100 million, according to a March 31 release.

The partnership plans to use the proceeds to re-establish its capital structure and for general corporate purposes.

Gaz Métro Inc. financed its subscription of new units through the issuance of common shares to Noverco Inc. for gross proceeds of about C$71 million.