PrefBlog

Bell Aliant has announced:

that its subsidiary, Bell Aliant Preferred Equity Inc. (the “Company”), has closed the sale of 4,600,000 4.55% Cumulative 5-Year Rate Reset Series C Preferred Shares (the “Series C Preferred Shares”) at a price of $25.00 per Series C Preferred Share for total gross proceeds of $115 million. This follows the Company’s previously announced bought deal public offering led by RBC Capital Markets, Scotia Capital and BMO Capital Markets, and includes the exercise in full by the syndicate of underwriters of their over-allotment option. The Series C Preferred Shares begin trading on the TSX under the symbol “BAF.PR.C” today.

BAF.PR.C is a FixedReset, 4.55%+309, announced November 21. BAF.PR.C will be tracked by HIMIPref™, but relegated to the Scraps index on credit concerns.

The issue traded 151,545 shares today in a range of 24.75-00 before closing at 25.00-06, 8×24.

Vital statistics are:

This entry was posted on Wednesday, December 7th, 2011 at 11:29 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.