Emera Incorporated has announced:
that it has completed its bought deal offering of 9,000,000 Cumulative Redeemable First Preferred Shares, Series L (the “Series L Preferred Shares”) at a price of $25.00 per share for aggregate gross proceeds of $225,000,000. The syndicate of underwriters was led by TD Securities Inc. and CIBC Capital Markets as joint bookrunners, and also included RBC Capital Markets, Scotiabank, BMO Capital Markets and National Bank Financial Inc. The Series L Preferred Shares will be listed on the Toronto Stock Exchange under the symbol EMA.PR.L. The net proceeds of the offering will be used for general corporate purposes.
EMA.PR.L is a 4.60% Straight Perpetual, announced 2021-9-15. It has been assigned to the Scraps PerpetualPremium subindex.
It traded 889,860 shares today in a range of 25.11-68 before closing at 25.61-69.
Hi James,
With Inflation definitely rising in Canada, and with the possibility of interest rates rising, where does it leave preferred share investing? With government inflation under reported, does it make preferred a less desirable investment?
I know it’s a beginner’s question 🙂
Thx for all you do,
FerrisWheel