TLM.PR.A Does Not Charm Market

Talisman Energy Inc. has announced:

it has completed the sale to a syndicate of underwriters led by RBC Capital Markets and CIBC of 8,000,000 Cumulative Redeemable Rate Reset First Preferred Shares, Series 1 at a price of CAD$25.00 per share, pursuant to its previously announced public offering of the preferred shares in Canada.

There was a greenshoe for another 2-million shares which was not exercised.

TLM.PR.A is a FixedReset, 4.20%+277 announced December 5. The issue will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.

The issue traded 68,600 shares in a range of 24.25-88 before closing at 24.10-25. Vital statistics are:

Maturity Type : Limit Maturity
Maturity Date : 2041-12-13
Maturity Price : 22.82
Evaluated at bid price : 24.10
Bid-YTW : 4.18 %

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