AltaGas has announced:
it has closed its previously announced public offering of 8,000,000 Cumulative Redeemable Five-Year Fixed Rate Reset Preferred Shares, Series C (the “Series C Preferred Shares”) at a price of US$25.00 per Series C Preferred Share (“the Offering”) for aggregate gross proceeds of US$200 million. The previously announced underwriters’ option to purchase an additional 2,000,000 Series C Preferred Shares at a price of US$25.00 per share was exercised in full.
The Offering was first announced on May 29, 2012 when AltaGas entered into an agreement with a syndicate of underwriters, co-led by RBC Capital Markets, CIBC and Scotiabank.
Net proceeds will be used to reduce outstanding indebtedness and for general corporate purposes.
The Series C Preferred Shares will commence trading today on the Toronto Stock Exchange under the symbol ALA.PR.U.
ALA.PR.U is a FixedReset, US-Pay, 4.40%+358, announced May 29. The issue traded 402,860 shares today in a range of 24.35-60 before closing at 24.45-49, 20×1.
ALA.PR.U will not be tracked by HIMIPref™ as there are insufficient USD issues available to form a coherent universe.
This entry was posted on Wednesday, June 6th, 2012 at 9:03 pm and is filed under Issue Comments, US Pay. You can follow any responses to this entry through the RSS 2.0 feed.
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ALA.PR.U Weak on Good Volume
AltaGas has announced:
ALA.PR.U is a FixedReset, US-Pay, 4.40%+358, announced May 29. The issue traded 402,860 shares today in a range of 24.35-60 before closing at 24.45-49, 20×1.
ALA.PR.U will not be tracked by HIMIPref™ as there are insufficient USD issues available to form a coherent universe.
This entry was posted on Wednesday, June 6th, 2012 at 9:03 pm and is filed under Issue Comments, US Pay. 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.