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Denver-based Forest Oil Corp. on Tuesday announced the public offering of 12.5 million shares. The underwriters will have a 30-day option to purchase up to 1,875,000 additional shares.
Forest intends to use the net proceeds from the offering to repay part of its outstanding borrowings, the company stated in a release.
Deutsche Bank Securities and Credit Suisse Securities (USA) LLC are the joint book-running managers of the offering.
