CorEnergy Infrastructure Trust Inc. sold $120 million of convertible senior notes to institutional buyers.
The notes carry an interest rate of 5.875% and are paid twice a year. They can be converted to 20 shares of the Kansas City-based company's common stock per $1,000 invested — the equivalent of about $50 per share — anytime prior to the maturity date of Aug. 15, 2025. Currently, the 52-week range for CorEnergy's stock has been $32.52 to $49.74 per share.
The offering resulted in about $116…
CorEnergy Infrastructure Trust Inc. sold $120 million of convertible senior notes to institutional buyers.
The notes carry an interest rate of 5.875% and are paid twice a year. They can be converted to 20 shares of the Kansas City-based company's common stock per $1,000 invested — the equivalent of about $50 per share — anytime prior to the maturity date of Aug. 15, 2025. Currently, the 52-week range for CorEnergy's stock has been $32.52 to $49.74 per share.
The offering resulted in about $116…