PrefBlog

This issue actually settled on August 30, but I neglected to post.

Westcoast Energy Inc. has announced:

that it has closed its previously announced offering of 12,000,000 Cumulative 5-Year Minimum Rate Reset Redeemable First Preferred Shares, Series 12 (the “Series 12 First Preferred Shares”) at a price of $25.00 per Series 12 First Preferred Share for aggregate gross proceeds of $300,000,000. The offering was made through a syndicate of underwriters led by TD Securities Inc. and CIBC Capital Markets.

The proceeds are expected to be used to fund capital expenditures and for general corporate purposes.

The Series 12 First Preferred Shares will begin trading on the Toronto Stock Exchange today under the symbol “W.PR.M”.

W.PR.M is a FixedReset 5.20%+452M520 announced 2016-8-22. It will be tracked by HIMIPref™; it has been assigned to the FixedResets subindex.

The issue traded 1,764,113 in a range of 25.23-34 before closing at 25.29-32.

Vital statistics on August 30 were:

This entry was posted on Tuesday, September 13th, 2016 at 2:43 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.