ARC Resources $400 million common share offering

On January 26, 2015, ARC Resources Ltd., one of Canada's largest conventional oil and gas companies, completed a public offering of common shares.  A total of 15.53 million common shares were issued at a price of $22.55 per share for gross proceeds of approximately $350 million.  The over-allotment option granted to the underwriters in connection with the financing was subsequently exercised in full and an additional 2.329 million common shares were issued for gross proceeds of approximately $52 million.

The offering was made through a syndicate of underwriters led by RBC Capital Markets.  Norton Rose Fulbright acted for the underwriters.  The team was led by Kevin Johnson and included Kirsty Sklar.