{"id":20533,"date":"2012-12-11T23:21:38","date_gmt":"2012-12-12T03:21:38","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=20533"},"modified":"2012-12-11T23:21:38","modified_gmt":"2012-12-12T03:21:38","slug":"ine-pr-c-shows-lots-of-volume-but-no-energy-on-closing","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=20533","title":{"rendered":"INE.PR.C Shows Lots of Volume But No Energy On Closing"},"content":{"rendered":"

Innergex Renewable Energy Inc. has announced<\/a> that it:<\/p>\n

has completed today the previously announced bought deal offering of Cumulative Redeemable Fixed-Rate Preferred Shares Series C (the “Series C Shares”).<\/p>\n

The Corporation issued a total of 2,000,000 Series C Shares at a price of $25.00 per share, for aggregate gross proceeds of $50,000,000. The offering was made on a bought deal basis through a syndicate of underwriters co-led by TD Securities Inc., National Bank Financial Inc. and BMO Capital Markets.<\/p>\n

The Series C Shares commence trading on the Toronto Stock Exchange today under the symbol INE.PR.C.<\/p>\n

The Corporation intends to use the proceeds of the offering to repay a portion of its revolving term credit facility and for general corporate purposes.<\/p>\n

The Series C Shares were distributed under a short form prospectus dated December 4, 2012 and details of the distribution are set out in the short form prospectus which is available on SEDAR at www.sedar.com.<\/p><\/blockquote>\n

INE.PR.C is a Straight Perpetual, 5.75%, announced November 21<\/a>. It is rated Pfd-3(low) [Trend Negative] by DBRS<\/a>.<\/p>\n

INE.PR.C will be tracked by HIMIPref™ and assigned to the Scraps index on credit concerns.<\/p>\n

INE.PR.C traded 136,220 shares today in a range of 24.45-76 before closing at 24.46-50, 50×35 – the volume was pretty good considering it’s only a $50-million issue! Vital statistics are:<\/p>\n

\n\n\n
INE.PR.C<\/td>\nPerpetual-Discount<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2042-12-11
\nMaturity Price : 24.10
\nEvaluated at bid price : 24.46
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Innergex Renewable Energy Inc. has announced that it: has completed today the previously announced bought deal offering of Cumulative Redeemable Fixed-Rate Preferred Shares Series C (the “Series C Shares”). The Corporation issued a total 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-20533","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20533","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=20533"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20533\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}