Great West Lifeco has announced:
the closing of its previously announced offering of 10,000,000 Non-Cumulative First Preferred Shares, Series P (the “Series P Shares”) through a syndicate of underwriters co-led by BMO Capital Markets, RBC Capital Markets, and Scotiabank for gross proceeds of $250 million. The Series P Shares will be posted for trading on the Toronto Stock Exchange under the symbol “GWO.PR.P”.
GWO.PR.P is a Straight Perpetual, coupon 5.40%, announced February 10.
The issue traded 648,620 shares today in a range of 24.95-09 before closing at 25.01-03, 24×21. This issue will be tracked by HIMIPref™ and assigned to the DeemedRetractibles index. Vital statistics are:
GWO.PR.P | Deemed-Retractible | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.01 Bid-YTW : 5.43 % |
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