Capital Power Corporation has announced:
that it has closed its previously announced offering of 8,000,000 Cumulative Rate Reset Preference Shares, Series 5 (the “Series 5 Shares”) at a price of $25 per Series 5 Share for aggregate gross proceeds of $200 million on a bought deal basis with a syndicate of underwriters, led by RBC Capital Markets and Scotiabank.
The Series 5 Shares will begin trading today on the TSX under the symbol CPX.PR.E.
CPX.PR.E is a FixedReset, 4.50%+315, announced March 5. It will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
The issue traded 287,695 shares today in a range of 24.84-95 before closing at 24.88-89, 38×4.
Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2043-03-14
Maturity Price : 23.10
Evaluated at bid price : 24.88
Bid-YTW : 4.41 %