{"id":12214,"date":"2010-09-14T23:09:56","date_gmt":"2010-09-15T03:09:56","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=12214"},"modified":"2010-09-14T23:09:56","modified_gmt":"2010-09-15T03:09:56","slug":"ine-pr-a-closes-at-premium-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=12214","title":{"rendered":"INE.PR.A Closes at Premium on Good Volume"},"content":{"rendered":"<p>Innergex Renewable Energy Inc. <a href=\"http:\/\/www.innergex.com\/sites\/documents\/pdf\/closing_preferred_offering_sept14_2010.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>the closing of the previously announced offering of Cumulative Rate Reset Preferred Shares, Series A (the \u201cSeries A Preferred Shares\u201d). The Corporation issued a total of 3,400,000 Series A Preferred Shares at $25 per share for aggregate gross proceeds of $85 million. The offering was made on a bought deal basis through a syndicate of underwriters led by BMO Capital Markets and TD Securities Inc.<\/p>\n<p>The Series A Preferred Shares commence trading on the Toronto Stock Exchange today under the symbol INE.PR.A.<\/p>\n<p>The Corporation intends to use the net proceeds of the offering to enhance its financial flexibility, to reduce indebtedness and for general corporate purposes.<\/p>\n<p>Innergex Renewable Energy Inc. is a leading developer, owner and operator of run-of-river hydroelectric facilities and wind energy projects in North America. Innergex\u2019s management team has been involved in the renewable power industry since 1990. Innergex owns a portfolio of projects which consists of: i) interests in 17 operating facilities with an aggregate net installed capacity of 326 MW; ii) interests in 7 projects under development with an aggregate net installed capacity of 203 MW for which power purchase agreements have been secured; and iii) prospective projects of more than 2,000 MW (net).<\/p><\/blockquote>\n<p>The issue traded 574,215 shares in a range of 24.96-18 before closing at 25.10-13.<\/p>\n<p>Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>INE.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2016-02-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.10<br \/>\nBid-YTW : 4.94 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>INE.PR.A is tracked by HIMIPref&trade;, but is relegated to the Scraps index on credit concerns.<\/p>\n<p><b>Update, 2011-03-23<\/b>: This is a 5.00%+279 FixedReset <a href=\"http:\/\/www.prefblog.com\/?p=11952\">as previously announced<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Innergex Renewable Energy Inc. has announced: the closing of the previously announced offering of Cumulative Rate Reset Preferred Shares, Series A (the \u201cSeries A Preferred Shares\u201d). The Corporation issued a total of 3,400,000 Series A &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-12214","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/12214","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=12214"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/12214\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}