{"id":14413,"date":"2011-03-15T21:20:33","date_gmt":"2011-03-16T01:20:33","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14413"},"modified":"2011-03-15T21:20:33","modified_gmt":"2011-03-16T01:20:33","slug":"baf-pr-a-soft-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14413","title":{"rendered":"BAF.PR.A Soft on Good Volume"},"content":{"rendered":"

Bell Aliant has announced<\/a>:<\/p>\n

Bell Aliant Preferred Equity Inc. (the \u201cCompany\u201d) has closed the sale of 10,000,000 4.85% Cumulative 5-Year Rate Reset Series A Preferred Shares (the \u201cSeries A Preferred Shares\u201d) at a price of $25.00 per Series A Preferred Share. This follows the Company’s previously announced bought deal public offering led by BMO Capital Markets and Scotia Capital Inc. The Series A Preferred Shares begin trading on the TSX under the symbol \u201cBAF\u201d today.<\/p><\/blockquote>\n

BAF.PR.A is a 4.85%+209 FixedReset announced February 22. Closing was delayed from the originally scheduled March 9<\/a> due to what appears to be a clerical error. It would appear that there was another hiccup this morning; trading was halted<\/a>:<\/p>\n

The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):<\/p>\n

Issuer Name: Bell Aliant Preferred Equity Inc.
\nTSX Ticker Symbol: BAF.PR.A
\nTime of Halt: 8:32
\nReason for Halt: Pending Closing<\/p><\/blockquote>\n

and eventually started 45 minutes into the session<\/a>:<\/p>\n

Trading resumes in:<\/p>\n

Issuer Name: Bell Aliant Preferred Equity Inc.
\nTSX Ticker Symbol: BAF.PR.A
\nResumption Time: 10:15 a.m.<\/p><\/blockquote>\n

The issue traded 202,290 shares today in a range of 24.79-90 before closing at 24.80-84, 54×1.<\/p>\n

Vital statistics are:<\/p>\n

\n\n\n
BAF.PR.A<\/td>\nFixedReset<\/td>\nNot Calc!<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-03-15
\nMaturity Price : 24.75
\nEvaluated at bid price : 24.80
\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

BAF.PR.A will be tracked by HIMIPref™ but consigned to the Scraps index on credit concerns.<\/p>\n

Update, 2011-3-25<\/b>: The greenshoe was fully exercised<\/a>:<\/p>\n

Bell Aliant Inc. (\u201cBell Aliant\u201d) (TSX:BA) announced today Bell Aliant Preferred Equity Inc. (the \u201cCompany\u201d) has closed the sale of an additional 1,500,000 Cumulative 5-Year Rate Reset Series A Preferred Shares (the \u201cSeries A Preferred Shares\u201d) at a price of $25.00 per Series A Preferred Share. This follows the exercise in full by the underwriters of the over-allotment option in connection with the Company’s previously announced bought deal public offering of Series A Preferred Shares (the “Offering”) led by BMO Capital Markets and Scotia Capital Inc. As a result of the exercise of the over-allotment option, the aggregate gross proceeds to the Company pursuant to the Offering now total $287.5 million. The Series A Preferred Shares began trading on the Toronto Stock Exchange under the symbol \u201cBAF.PR.A\u201d on March 15, 2011.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Bell Aliant has announced: Bell Aliant Preferred Equity Inc. (the \u201cCompany\u201d) has closed the sale of 10,000,000 4.85% Cumulative 5-Year Rate Reset Series A Preferred Shares (the \u201cSeries A Preferred Shares\u201d) at a price of …<\/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-14413","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14413","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=14413"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14413\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}