NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES WIRE
VANCOUVER, Sept. 23, 2011 /CNW/ - Westport Innovations Inc. (TSX: WPT)
(NASDAQ: WPRT), the global leader in natural gas engines, today
announced that it has raised CDN$36 million through the issuance of
debentures offered by Macquarie Private Wealth Inc. (Macquarie), on a
private placement basis, to replace previously issued debentures that
matured in July 2011.
The debentures are unsecured and subordinated to senior indebtedness,
mature on September 22, 2014 and bear interest at 9% per annum, payable
in cash semi-annually in arrears on March 15th and September 15th of
each year during the term, commencing on March 15, 2012. The debentures
are not listed on any stock exchange. Westport has paid to Macquarie a
cash commission equal to 3.85% of the gross proceeds of the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sale of securities in any state in the United States in which such
offer, solicitation or sale would be unlawful. The securities referred
to herein have not been and will not be registered under the United
States Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements.
About Westport Innovations Inc.
Westport Innovations Inc. is a global leader in alternative fuel,
low-emissions technologies that allow engines to operate on
clean-burning fuels such as compressed natural gas (CNG), liquefied
natural gas (LNG), hydrogen, and renewable natural gas (RNG) fuels such
as landfill gas. Our unique technologies reduce nitrogen oxides (NOx),
particulate matter (PM), and greenhouse gas emissions (GHG). The
Company focuses on three distinct categories or target markets -
light-, medium-, and heavy-duty - through Westport business units or
joint ventures. Westport LD is focused on light-duty automotive
systems, components and engines, including 2.4L engines for industrial
applications such as forklifts and oilfield service. Cummins Westport
(CWI), a joint venture with Cummins, sells the world's broadest range
of low-emissions alternative fuel engines for commercial urban fleets
such as buses, refuse trucks and vocational vehicles. Westport Heavy
Duty (Westport HD) is engaged in the engineering, design and marketing
of natural gas-enabling technology for the heavy-duty diesel engine and
truck market. To learn more about our business, visit our website or
subscribe to our RSS feed at www.westport.com, or follow us on Twitter @WestportWPRT.
SOURCE Westport Innovations Inc.
For further information:
Vice President, Investor Relations & Communications
Westport Innovations Inc.