Canadian Utilities Limited has announced:
it has closed its previously announced public offering of Cumulative Redeemable Second Preferred Shares Series JJ, by a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets, and including TD Securities Inc., Scotiabank, CIBC Capital Markets, National Bank Financial Inc., and ATB Capital Markets (the “Underwriters”). Canadian Utilities issued 8,050,000 Series JJ Preferred Shares for gross proceeds of $201,250,000, which includes the full exercise of the Underwriters’ over-allotment option. The Series JJ Preferred Shares will begin trading on the Toronto Stock Exchange (the “TSX”) today under the symbol CU.PR.K. Proceeds from the issue will be used for capital expenditures and for other general corporate purposes.
CU.PR.K is a Straight Perpetual, 5.60%, announced 2025-11-12. It has been assigned to the PerpetualDiscounts subindex.
The issue traded 487,376 shares today in a range of 24.88-00 before closing at 24.96-00. Vital statistics are:
| CU.PR.K | Perpetual-Discount | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-11-27 Maturity Price : 24.57 Evaluated at bid price : 24.96 Bid-YTW : 5.63 % |