Power Corporation has announced:
the closing of its offering of 8,000,000 5.65% Non-Cumulative First Preferred Shares, Series I in the capital of the Corporation (the “Series I 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 I shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol “POW.PR.I”. The net proceeds of this offering will be used by Power Corporation for general corporate purposes.
POW.PR.I is a 5.65% Straight Perpetual announced 2025-11-13. It has been added to the PerpetualDiscount sub-index.
The issue traded 361,500 shares today in a range of 24.85-95 before closing at 24.87-88. Vital statistics are:
| POW.PR.I | Perpetual-Discount | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-11-20 Maturity Price : 24.50 Evaluated at bid price : 24.89 Bid-YTW : 5.69 % |