{"id":18038,"date":"2012-03-07T23:10:52","date_gmt":"2012-03-08T03:10:52","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=18038"},"modified":"2012-03-07T23:10:52","modified_gmt":"2012-03-08T03:10:52","slug":"nxy-pr-a-closes-at-solid-premium-on-strong-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=18038","title":{"rendered":"NXY.PR.A Closes at Solid Premium on Strong Volume"},"content":{"rendered":"<p>Nexen Inc. <a href=\"http:\/\/www.nexeninc.com\/en\/AboutUs\/MediaCentre\/NewsReleases.aspx?year=2012&#038;release_id=1581027\">has announced<\/a>:<\/p>\n<blockquote><p>that we have completed our public offering of cumulative redeemable class A rate reset preferred shares, series 2 (the &#8220;Series 2 Shares&#8221;), which was announced on February 27, 2012.<\/p>\n<p>With the underwriters fully exercising their option to acquire an additional 2 million Series 2 Shares, the size of the offering increased to a total of 8 million Series 2 Shares, resulting in gross proceeds of $200 million.<\/p>\n<p>The net proceeds of the offering may be used to reduce Nexen&#8217;s indebtedness, for capital expenditures and for general corporate purposes.<\/p>\n<p>The syndicate of underwriters was co-led by TD Securities Inc. and Scotiabank and included RBC Capital Markets, CIBC, BMO Capital Markets, National Bank Financial Inc., Desjardins Securities Inc. and HSBC Securities (Canada) Inc.<\/p>\n<p>The Series 2 Shares will be listed on the Toronto Stock Exchange under the symbol &#8220;NXY.PR.A&#8221;.<\/p><\/blockquote>\n<p>NXY.PR.A is a FixedReset, 5.00%+359 <a href=\"http:\/\/www.prefblog.com\/?p=17955\">announced February 27<\/a>. It will be tracked by HIMIPref&trade; but relegated to the Scraps index on credit concerns.<\/p>\n<p>NXY.PR.A traded 645,238 shares today in a range of 25.06-24 before closing at 25.22-23, 18&#215;13. Vital statistics are: <\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>NXY.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2017-03-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.22<br \/>\nBid-YTW : 4.83 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nexen Inc. has announced: that we have completed our public offering of cumulative redeemable class A rate reset preferred shares, series 2 (the &#8220;Series 2 Shares&#8221;), which was announced on February 27, 2012. With the &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-18038","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18038","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=18038"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/18038\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}