Power Corporation of Canada has announced:
the successful completion and closing of an offering of 8,000,000 5.60% Non-Cumulative First Preferred Shares, Series G (the “Series G Shares”) priced at $25.00 per share to raise gross proceeds of $200 million.
The issue was bought by an underwriting syndicate co-led by BMO Capital Markets, RBC Capital Markets and Scotiabank.
The Series G Shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol “POW.PR.G”. Proceeds from the issue will be used to supplement Power Corporation of Canada’s financial resources and for general corporate purposes.
POW.PR.G is a 5.60% Straight Perpetual announced February 15.
POW.PR.G traded 594,733 shares today in a range of 25.37-48 before closing at 25.47-48, 10×4. The issue will be tracked by HIMIPref™ and is assigned to the PerpetualPremium index. Vital statistics are:
Maturity Type : Call
Maturity Date : 2021-04-15
Maturity Price : 25.00
Evaluated at bid price : 25.47
Bid-YTW : 5.37 %