CU.PR.C Closes Strong on Good Volume

Canadian Utilities has announced:

it has closed its previously announced public offering of Cumulative Redeemable Second Preferred Shares Series Y, by a syndicate of underwriters co-led by RBC Capital Markets and BMO Capital Markets, and including TD Securities Inc. and Scotia Capital Inc. As a result of the underwriters exercising in full their option to purchase an additional 2 million Series Y Preferred Shares, Canadian Utilities Limited issued 13 million Series Y Preferred Shares for gross proceeds of $325 million. The Series Y Preferred Shares will begin trading on the TSX today under the symbol CU.PR.C. The proceeds will be used for capital expenditures, to repay indebtedness and for other general corporate purposes.

CU.PR.C is a FixedReset 4.00%+240 announced September 13. It is tracked by HIMIPref™ and is assigned to the FixedReset subindex.

The issue traded 471,280 shares today in a range of 25.15-25 before closing at 25.21-25, 9×181. Vital statistics are:

CU.PR.C FixedReset YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2041-09-21
Maturity Price : 23.19
Evaluated at bid price : 25.21
Bid-YTW : 3.73 %

This entry was posted on Wednesday, September 21st, 2011 at 10:19 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “CU.PR.C Closes Strong on Good Volume”

  1. October 19, 2011 « PrefBlog says:
    October 20, 2011 at 12:57 am

    […] Recent new issue. YTW SCENARIO Maturity Type : Call Maturity Date : 2017-06-01 Maturity Price : 25.00 Evaluated at bid price : 25.33 Bid-YTW : 3.82 % […]

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