MTS Allstream winds up $249M share sale

WINNIPEG - MTS Allstream said Friday that it has closed its previously announced "bought deal" financing agreement which saw it sell over 8 million common shares for approximately $249 million.There was no over-allotment option granted in connection with the offering. The company confirmed its intentions to use the net proceeds to fulfill future pension funding obligations (including prefunding its solvency deficit and other potential future pension liabilities) and for general corporate purposes.MTS Allstream added that it expects to deliver significant increases in free cash flow and growth across its strategic product lines in 2014, and expects that it will not be...