Power Corporation of Canada and Power Financial Corporation have announced:
the closing of Power Financial’s previously announced offering of 8,000,000 4.50% Non-Cumulative First Preferred Shares, Series 23 in the capital of Power Financial (the “Series 23 Shares”) priced at $25.00 per share for gross proceeds of $200 million. The issue was bought by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank.
The Series 23 Shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol “PWF.PF.A”. The net proceeds of this offering will be used by Power Financial for general corporate purposes. Power Financial intends to redeem all of its outstanding $200 million 6.00% Non-Cumulative First Preferred Shares, Series I.
PWF.PF.A is a Straight Perpetual, 4.50%, announced 2021-10-6. It will be tracked by HIMIPref™ and has been assigned to the PerpetualDiscount subindex.
The issue traded 736,260 shares today in a range of 24.65-83 before closing at 24.65-80. Vital statistics are:
| PWF.PF.A |
Perpetual-Discount |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2051-10-15
Maturity Price : 24.26
Evaluated at bid price : 24.65
Bid-YTW : 4.56 % |
This entry was posted on Saturday, October 16th, 2021 at 10:01 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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PWF.PF.A Soft On Reasonable Volume
Power Corporation of Canada and Power Financial Corporation have announced:
PWF.PF.A is a Straight Perpetual, 4.50%, announced 2021-10-6. It will be tracked by HIMIPref™ and has been assigned to the PerpetualDiscount subindex.
The issue traded 736,260 shares today in a range of 24.65-83 before closing at 24.65-80. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2051-10-15
Maturity Price : 24.26
Evaluated at bid price : 24.65
Bid-YTW : 4.56 %
This entry was posted on Saturday, October 16th, 2021 at 10:01 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.