Groupe Aeroplan has announced:
that it has closed its previously announced bought deal public offering of 6,000,000 cumulative rate reset preferred shares, Series 1 (the “Series 1 Preferred Shares”) for gross proceeds of C$150 million, purchased by a syndicate of underwriters led by CIBC, RBC Dominion Securities Inc. and TD Securities Inc., acting as co-Bookrunners.
Groupe Aeroplan Inc. has also granted the underwriters an option to purchase up to an additional 900,000 Series 1 Preferred Shares to cover over-allotments, exercisable in whole or in part at any time up to 30 days following closing of the offering. If the over-allotment option is exercised in full, the aggregate gross proceeds to Groupe Aeroplan Inc. will be C$172.5 million.
The net proceeds of the issue will be used by Groupe Aeroplan Inc. to repay indebtedness, and for general corporate purposes.
This is the FixedReset 6.50%+375 issue announced January 12.
The issue traded 279,498 shares on the TMX in a range of 24.86-22 before closing at 25.09-10, 4×9.
Vital statistics are:
| AER.PR.A | FixedReset | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2040-01-20 Maturity Price : 25.04 Evaluated at bid price : 25.09 Bid-YTW : 6.33 % |
AER.PR.A is tracked by HIMIPref™ but is relegated to the Scraps subindex on credit concerns.
[…] (Discount) subindex. It commenced trading as AER.PR.A with an initial dividend rate of 6.50% on 2010-1-20 after being announced 2010-1-12. AIM.PR.A changed its ticker from AER.PR.A in October, 2011. The […]