{"id":19964,"date":"2012-10-12T02:02:06","date_gmt":"2012-10-12T06:02:06","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19964"},"modified":"2012-10-12T02:02:06","modified_gmt":"2012-10-12T06:02:06","slug":"brf-pr-c-firm-on-excellent-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19964","title":{"rendered":"BRF.PR.C Firm on Excellent Volume"},"content":{"rendered":"<p>Brookfield Renewable Energy Partners <a href=\"http:\/\/brookfieldrenewable.com\/content\/2012\/brookfield_renewable_completes_cdn_250_million_pr-35681.html\">has announced<\/a>:<\/p>\n<blockquote><p> the completion of the previously announced offering of 10,000,000 Class A Preference Shares, Series 3 (the \u201cSeries 3 Shares\u201d), (including 2,000,000 Series 3 Shares sold pursuant to an underwriters\u2019 option that was exercised in full prior to closing), at a price of CDN$25.00 per Series 3 Share, for total gross proceeds of CDN$250,000,000. The offering was underwritten by a syndicate led by TD Securities Inc., CIBC, RBC Capital Markets and Scotiabank.<\/p>\n<p>A subsidiary of Brookfield Renewable issued the Series 3 Shares, which are guaranteed by Brookfield Renewable. Holders of the Series 3 Shares will be entitled to receive fixed cumulative dividends yielding 4.4% at the issue price annually and payable quarterly for the initial period ending July 31, 2019. Thereafter, the dividend rate will be reset every five years at a rate equal to the then five-year Government of Canada bond yield plus 2.94%.<\/p>\n<p>Brookfield Renewable intends to use the net proceeds of the issue of the Series 3 Shares to repay outstanding indebtedness and for general corporate purposes.<\/p>\n<p>The Series 3 Shares will commence trading today on the Toronto Stock Exchange under the ticker symbol BRF.PR.C.<\/p><\/blockquote>\n<p>BRF.PR.C is a FixedReset, 4.40%+294, <a href=\"http:\/\/www.prefblog.com\/?p=19869\">announced October 1<\/a>. This issue will be tracked by HIMIPref&trade;, but assigned to the Scraps index on credit concerns.<\/p>\n<p>The issue traded 552,596 shares today in a range of 24.99-05 before closing at 25.01-02, 14&#215;359. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>BRF.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2042-10-11<br \/>\nMaturity Price  : 23.09<br \/>\nEvaluated at bid price : 25.01<br \/>\nBid-YTW : 4.21 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Renewable Energy Partners has announced: the completion of the previously announced offering of 10,000,000 Class A Preference Shares, Series 3 (the \u201cSeries 3 Shares\u201d), (including 2,000,000 Series 3 Shares sold pursuant to an underwriters\u2019 &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-19964","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19964","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=19964"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19964\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}