Power Financial Corporation has announced:
the successful completion and closing of an offering of 6,000,000 Non-Cumulative First Preferred Shares, Series O (the “Series O Shares”), priced at $25.00 per share to raise gross proceeds of $150 million.
The issue was bought by an underwriting group led by BMO Capital Markets, Scotia Capital Inc. and RBC Capital Markets.
The Series O Shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol “PWF.PR.O”. Proceeds from the issue will be used to supplement Power Financial’s financial resources and for general corporate purposes.
This 5.80% Straight was announced last week.
PWF.PR.O traded 149,780 shares in a range of 25.35-50 before closing at 24.35-39.
Vital statistics are:
| PWF.PR.O |
Perpetual-Discount |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2039-10-09
Maturity Price : 24.15
Evaluated at bid price : 24.35
Bid-YTW : 5.99 % |
PWF.PR.O is tracked by HIMIPref™. It has been assigned to the PerpetualDiscount index.
It’s interesting to look at the comparators:
| PWF.PR.O and its Comparators |
| Ticker |
Dividend |
Quote
10/9 |
Yield
10/9 |
| PWF.PR.K |
1.2375 |
20.43-62 |
6.08-01% |
| PWF.PR.L |
1.275 |
20.74-99 |
6.17-08% |
| PWF.PR.F |
1.3125 |
21.60-68 |
6.10-07% |
| PWF.PR.E |
1.375 |
23.01-48 |
5.96-81% |
| PWF.PR.H |
1.4375 |
23.50-77 |
6.12-04% |
| PWF.PR.O |
1.45 |
24.35-39 |
5.99-98% |
| PWF.PR.G |
1.475 |
24.30-40 |
6.07-02% |
| PWF.PR.I |
1.50 |
24.80-85 |
6.05-04% |
This entry was posted on Friday, October 9th, 2009 at 7:36 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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PWF.PR.O Dives on Opening; Still Expensive
Power Financial Corporation has announced:
This 5.80% Straight was announced last week.
PWF.PR.O traded 149,780 shares in a range of 25.35-50 before closing at 24.35-39.
Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2039-10-09
Maturity Price : 24.15
Evaluated at bid price : 24.35
Bid-YTW : 5.99 %
PWF.PR.O is tracked by HIMIPref™. It has been assigned to the PerpetualDiscount index.
It’s interesting to look at the comparators:
10/9
10/9
This entry was posted on Friday, October 9th, 2009 at 7:36 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.