Innergex Renewable Energy Inc. has announced that it:
has completed today the previously announced bought deal offering of Cumulative Redeemable Fixed-Rate Preferred Shares Series C (the “Series C Shares”).
The Corporation issued a total of 2,000,000 Series C Shares at a price of $25.00 per share, for aggregate gross proceeds of $50,000,000. The offering was made on a bought deal basis through a syndicate of underwriters co-led by TD Securities Inc., National Bank Financial Inc. and BMO Capital Markets.
The Series C Shares commence trading on the Toronto Stock Exchange today under the symbol INE.PR.C.
The Corporation intends to use the proceeds of the offering to repay a portion of its revolving term credit facility and for general corporate purposes.
The Series C Shares were distributed under a short form prospectus dated December 4, 2012 and details of the distribution are set out in the short form prospectus which is available on SEDAR at www.sedar.com.
INE.PR.C is a Straight Perpetual, 5.75%, announced November 21. It is rated Pfd-3(low) [Trend Negative] by DBRS.
INE.PR.C will be tracked by HIMIPref™ and assigned to the Scraps index on credit concerns.
INE.PR.C traded 136,220 shares today in a range of 24.45-76 before closing at 24.46-50, 50×35 – the volume was pretty good considering it’s only a $50-million issue! Vital statistics are:
| INE.PR.C |
Perpetual-Discount |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2042-12-11
Maturity Price : 24.10
Evaluated at bid price : 24.46
Bid-YTW : 5.90 % |
This entry was posted on Tuesday, December 11th, 2012 at 11:21 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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INE.PR.C Shows Lots of Volume But No Energy On Closing
Innergex Renewable Energy Inc. has announced that it:
INE.PR.C is a Straight Perpetual, 5.75%, announced November 21. It is rated Pfd-3(low) [Trend Negative] by DBRS.
INE.PR.C will be tracked by HIMIPref™ and assigned to the Scraps index on credit concerns.
INE.PR.C traded 136,220 shares today in a range of 24.45-76 before closing at 24.46-50, 50×35 – the volume was pretty good considering it’s only a $50-million issue! Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2042-12-11
Maturity Price : 24.10
Evaluated at bid price : 24.46
Bid-YTW : 5.90 %
This entry was posted on Tuesday, December 11th, 2012 at 11:21 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.