Bell Aliant Inc. has announced:
that its subsidiary, Bell Aliant Preferred Equity Inc. (the “Company”), has closed the sale of 8,000,000 4.25 per cent Cumulative 5-Year Rate Reset Series E Preferred Shares (the “Series E Preferred Shares”) at a price of $25.00 per Series E Preferred Share for total gross proceeds of $200 million. This follows the Company’s previously announced bought deal public offering led by Scotiabank, TD Securities Inc, and CIBC. The Series E Preferred Shares begin trading on the TSX under the symbol “BAF.PR.E” today.
BAF.PR.E is a FixedReset, 4.25%+264, announced January 30. The announced issue size of $200-million implies that the greenshoe option for another $30-million was not exercised.
The issue traded 908,461 shares today in a range of 25.12-50 before closing at 25.28-30, 3×42. Vital statistics are:
| BAF.PR.E |
FixedReset |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-02-14
Maturity Price : 23.21
Evaluated at bid price : 25.28
Bid-YTW : 3.94 % |
BAF.PR.E will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
This entry was posted on Friday, February 15th, 2013 at 2:52 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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BAF.PR.E: Good Premium on Very Good Volume
Bell Aliant Inc. has announced:
BAF.PR.E is a FixedReset, 4.25%+264, announced January 30. The announced issue size of $200-million implies that the greenshoe option for another $30-million was not exercised.
The issue traded 908,461 shares today in a range of 25.12-50 before closing at 25.28-30, 3×42. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2043-02-14
Maturity Price : 23.21
Evaluated at bid price : 25.28
Bid-YTW : 3.94 %
BAF.PR.E will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
This entry was posted on Friday, February 15th, 2013 at 2:52 am 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.