{"id":11917,"date":"2010-08-20T00:58:51","date_gmt":"2010-08-20T04:58:51","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=11917"},"modified":"2010-08-20T00:58:51","modified_gmt":"2010-08-20T04:58:51","slug":"ala-pr-a-rockets-to-premium-on-massive-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=11917","title":{"rendered":"ALA.PR.A Rockets to Premium on Massive Volume"},"content":{"rendered":"<p>AltaGas Ltd. <a href=\"http:\/\/cnrp.marketwire.com\/cnrp_files\/20100819-819ala.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>it has closed its previously announced public offering of 8,000,000 Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series A (the \u201cSeries A Preferred Shares\u201d) at a price of $25 per Series A Preferred Share (the \u201cOffering\u201d). The Offering resulted in AltaGas receiving gross proceeds of $200 million.<\/p>\n<p>The Offering was first announced on August 10, 2010 when AltaGas entered into an agreement with a syndicate of underwriters, led by TD Securities Inc., RBC Capital Markets and CIBC World Markets Inc.<br \/>\nNet proceeds from the Offering will be used to reduce outstanding indebtedness under AltaGas&#8217; credit facilities, thereby strengthening AltaGas&#8217; balance sheet and giving it the financial flexibility to support, among other things, construction activities related to the Forrest Kerr project.<\/p>\n<p>The Series A Preferred Shares will commence trading today on the Toronto Stock Exchange under the symbol ALA.PR.A.<\/p><\/blockquote>\n<p>The offering was super-sized from $150-million to <a href=\"http:\/\/cnrp.marketwire.com\/cnrp_files\/20100810-al810.pdf\">$200-million, announced, August 10<\/a>.<\/p>\n<p>ALA.PR.A was announced as a <a href=\"http:\/\/www.prefblog.com\/?p=11811\">FixedReset 5.00%+266<\/a> on August 10.<\/p>\n<p>It traded 989,638 shares today in a range of 25.19-42 before closing at 25.38-44, 17&#215;50.<\/p>\n<p>Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>ALA.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2015-10-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.38<br \/>\nBid-YTW : 4.69 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>AltaGas Ltd. has announced: it has closed its previously announced public offering of 8,000,000 Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series A (the \u201cSeries A Preferred Shares\u201d) at a price of $25 per Series &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-11917","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/11917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11917"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/11917\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}