BA (sub) New Issue Closing Delayed

Bell Alliant has announced:

that Bell Aliant Preferred Equity Inc. has filed a final prospectus with securities regulators in each of the provinces and territories of Canada for its previously announced offering of 10,000,000 Cumulative 5-Year Rate Reset Preferred Shares, Series A (the “Series A Preferred Shares”) at a price of $25.00 per share for gross proceeds of $250 million. The offering is now scheduled to close on or about March 15, 2011, subject to certain conditions. The syndicate of underwriters, led by BMO Capital Markets and Scotia Capital Inc., has been granted an over-allotment option, exercisable up to 30 days after closing, to purchase an additional 1,500,000 Series A Preferred Shares at the offering price.

There’s not much detail in that, but it looks like a box-ticking foul up. On SEDAR, under “Bell Aliant Preferred Equity Inc. Mar 7 2011 Material incorporated by reference not previously filed – English” is the Material Change Report noting the initial press release regarding the issue.

The issue is a 4.85%+209 FixedReset announced February 22.

2 Responses to “BA (sub) New Issue Closing Delayed”

  1. […] Update 2011-03-09: Closing delayed until 3/15. […]

  2. […] is a 4.85%+209 FixedReset announced February 22. Closing was delayed from the originally scheduled March 9 due to what appears to be a clerical […]

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