{"id":17834,"date":"2012-02-13T18:12:00","date_gmt":"2012-02-13T22:12:00","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=17834"},"modified":"2012-02-13T18:12:00","modified_gmt":"2012-02-13T22:12:00","slug":"new-issue-pwf-5-50-straight","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=17834","title":{"rendered":"New Issue: PWF 5.50% Straight"},"content":{"rendered":"<p>Power Financial Corporation <a href=\"http:\/\/www.powerfinancial.com\/media\/upload\/news\/PFC_2012_02_13_Eng.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that it has agreed to issue 6,000,000 Non-Cumulative First Preferred Shares, Series R (the &#8220;Series R Shares&#8221;) on a bought deal basis, for gross proceeds of $150 million. The Series R Shares will be priced at $25.00 per share and will carry an annual dividend yield of 5.50%. Closing is expected on or about February 23, 2012. The issue will be underwritten by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank.<\/p>\n<p>Power Financial has also granted the underwriters an option to purchase an additional 2,000,000 Series R Shares at the same offering price. Should the underwriters&#8217; option be exercised fully, the total gross proceeds of the Series R Share offering will be $200 million.<\/p>\n<p>Proceeds from the issue will be used to supplement the Corporation&#8217;s financial resources and for general corporate purposes.<\/p><\/blockquote>\n<p><b>Update<\/b>: Have heard that this has been upsized to $250-million.<\/p>\n<p><b>Update<\/b>: <a href=\"http:\/\/www.powerfinancial.com\/media\/upload\/news\/PFC_2012-02-132_Eng.pdf\">Confirmed<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Power Financial Corporation has announced: that it has agreed to issue 6,000,000 Non-Cumulative First Preferred Shares, Series R (the &#8220;Series R Shares&#8221;) on a bought deal basis, for gross proceeds of $150 million. The 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":[17],"tags":[],"class_list":["post-17834","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17834","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=17834"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17834\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}