BRF.PR.F Firm On Good Volume

Brookfield Renewable Energy Partners has announced:

the completion of its previously announced 5% perpetual Class A Preferred Shares, Series 6 (“Preferred Shares”) bought deal issue in the amount of CDN$175,000,000. Brookfield Renewable issued, through a wholly-owned subsidiary, 7,000,000 Preferred Shares at a price of CDN$25.00 per share, for total gross proceeds of CDN$175,000,000.

The offering was underwritten by a syndicate led by Scotiabank, CIBC, RBC Capital Markets and TD Securities Inc.

The Series 6 Preferred Shares will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BRF.PR.F.

BRF.PR.F is a Straight Perpetual, 5.00% announced April 23. The fact that 7-million shares were issued means that the greenshoe option was exercised in full. The issue will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.

The issue traded 289,520 shares today in a range of 24.85-94 before closing at 24.94-95, 10×151. Vital statistics are:

BRF.PR.F Perpetual-Discount 289,520 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-05-01
Maturity Price : 24.55
Evaluated at bid price : 24.94
Bid-YTW : 5.02 %

Leave a Reply

You must be logged in to post a comment.