{"id":21836,"date":"2013-04-29T14:20:53","date_gmt":"2013-04-29T18:20:53","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=21836"},"modified":"2013-04-29T14:20:53","modified_gmt":"2013-04-29T18:20:53","slug":"new-issue-cgi-split-share-3-75-ten-year","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=21836","title":{"rendered":"New Issue: CGI Split Share, 3.75%, Ten-Year"},"content":{"rendered":"<p>In addition to the <a href=\"http:\/\/www.prefblog.com\/?p=21834\">redemption of CGI.PR.B<\/a>, Morgan Meighen &#038; Associates <a href=\"http:\/\/www.mmainvestments.com\/index.cfm?Section=Main&#038;Page=Home_Single_News&#038;NewsID=834\">has announced<\/a>:<\/p>\n<blockquote><p>The Company further announced today that it has entered into an agreement with a syndicate of investment dealers led by Scotia Capital Inc. pursuant to which the syndicate has agreed to purchase 3,000,000 3.75% Cumulative Redeemable Class A Preference Shares, Series 4 of the Company (the \u201cSeries 4 Shares\u201d) for gross proceeds of $75,000,000. The net proceeds of the offering, which is expected to close on May 30, 2013, will be used, together with available cash, to repay the short-term loan entered into to fund the redemption of the Series 2 Shares.<\/p><\/blockquote>\n<p>I am advised that this issue is retractible on or after June 15, 2023, for $25.00 cash. The issue may be called at $26.00 commencing June 15, 2018; the redemption price declines by 0.25 every June 15 until June 15, 2022; redeemable at 25.00 thereafter.<\/p>\n<p>Angry pedants are advised that I consider this issue to be a Split Share because all of it&#8217;s credit quality is derived from an underlying investment portfolio; CGI is not an operating company.<\/p>\n<p><b>Update, 2016-4-14<\/b>: Trades as CGI.PR.D<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In addition to the redemption of CGI.PR.B, Morgan Meighen &#038; Associates has announced: The Company further announced today that it has entered into an agreement with a syndicate of investment dealers led by Scotia Capital &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-21836","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/21836","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=21836"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/21836\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}