Canadian Utilities Limited has announced:
it has closed its previously announced public offering of Cumulative Redeemable Second Preferred Shares Series CC, by a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets, and including TD Securities Inc. and Scotiabank. Canadian Utilities Limited issued 7,000,000 Series CC Preferred Shares for gross proceeds of $175 million. The Series CC Preferred Shares will begin trading on the TSX today under the symbol CU.PR.F. The proceeds will be used for capital expenditures, to repay indebtedness and for other general corporate purposes.
CU.PR.F is a Straight Perpetual, 4.50%, announced March 5. It will be tracked by HIMIPref™ and has been assigned to the PerpetualDiscounts index.
The issue traded 445,736 shares today in a range of 24.86-96 before closing at 24.95-96, 41×121. VWAP was 24.922. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2043-03-19
Maturity Price : 24.56
Evaluated at bid price : 24.95
Bid-YTW : 4.51 %