{"id":14481,"date":"2011-03-18T22:59:36","date_gmt":"2011-03-19T02:59:36","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14481"},"modified":"2011-03-18T22:59:36","modified_gmt":"2011-03-19T02:59:36","slug":"hse-pr-a-closes-slightly-under-par-on-heavy-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14481","title":{"rendered":"HSE.PR.A Closes Slightly Under Par on Heavy Volume"},"content":{"rendered":"

Husky Energy has announced<\/a>:<\/p>\n

that it has completed its recently announced public offering of 10,000,000 Cumulative Rate Reset First Preferred Shares, Series 1 (the “Series 1 Shares”). The underwriting group led by CIBC, RBC Capital Markets and BMO Capital Markets (collectively the “Underwriters”) exercised their 2,000,000 Series 1 Shares over-allotment option in full, and accordingly, a total of 12,000,000 Series 1 Shares have been issued at a price of $25.00 per share for aggregate gross proceeds of $300 million.<\/p>\n

The net proceeds from this offering will be used for repayment of existing indebtedness, capital expenditures, corporate and asset acquisitions and for general corporate purposes.<\/p>\n

The Series 1 Shares were offered by way of prospectus supplement under the short form base shelf prospectus of Husky Energy dated November 26, 2010.<\/p>\n

Holders of the Series 1 Shares are entitled to receive a cumulative quarterly fixed dividend yielding 4.45% annually for the initial period ending March 31, 2016. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 1.73%. Holders of Series 1 Shares will have the right, at their option, to convert their shares into Cumulative Rate Reset First Preferred Shares, Series 2 (the “Series 2 Shares”), subject to certain conditions, on March 31, 2016 and on March 31 every five years thereafter. Holders of the Series 2 Shares will be entitled to receive cumulative quarterly floating dividends at a rate equal to the three-month Government of Canada Treasury Bill yield plus 1.73%.<\/p>\n

The Series 1 Shares are listed on the Toronto Stock Exchange under the ticker symbol HSE.PR. [sic]<\/p><\/blockquote>\n

HSE.PR.A is a FixedReset, 4.45%+173, announced March 10<\/a>. The issue traded 540,247 shares today in a range of 24.70-95.<\/p>\n

Vital statistics are:<\/p>\n

\n\n\n
HSE.PR.A<\/td>\nFixedReset<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-03-18
\nMaturity Price : 24.80
\nEvaluated at bid price : 24.85
\nBid-YTW : 4.37 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

HSE.PR.A is tracked by HIMIPref™ and assigned to the FixedReset subindex.<\/p>\n","protected":false},"excerpt":{"rendered":"

Husky Energy has announced: that it has completed its recently announced public offering of 10,000,000 Cumulative Rate Reset First Preferred Shares, Series 1 (the “Series 1 Shares”). The underwriting group led by CIBC, RBC Capital …<\/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-14481","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14481","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=14481"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14481\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}