{"id":24585,"date":"2014-03-05T23:21:01","date_gmt":"2014-03-06T04:21:01","guid":{"rendered":"http:\/\/prefblog.com\/?p=24585"},"modified":"2014-03-05T23:21:01","modified_gmt":"2014-03-06T04:21:01","slug":"aqn-pr-d-smacked-on-light-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24585","title":{"rendered":"AQN.PR.D Smacked on Light Volume"},"content":{"rendered":"<p>Algonquin Power &#038; Utilities Corp. <a href=\"http:\/\/www.snl.com\/IRWebLinkX\/file.aspx?IID=4142273&#038;FID=22343354\">has announced<\/a>:<\/p>\n<blockquote><p>the closing of the previously announced offering of Cumulative Rate Reset Preferred Shares, Series D (the &#8220;Series D Shares&#8221;). APUC issued a total of 4,000,000 Series D Shares at $25.00 per share for aggregate gross proceeds of $100 million.<\/p>\n<p>The holders of the Series D Shares will be entitled to receive fixed cumulative dividends at an annual rate of $1.25 per share, payable quarterly, as and when declared by the board of directors of APUC. The Series D Shares will yield 5.00% per cent annually, for the initial period ending on March 31, 2019.<\/p>\n<p>The offering was made on a bought deal basis through a syndicate of underwriters led by CIBC and TD Securities Inc.<\/p>\n<p>The Series D Shares will commence trading on the Toronto Stock Exchange today, March 5, 2014, under the symbol AQN.PR.D.<\/p>\n<p>The net proceeds of the offering will be used to partially finance certain of APUC&#8217;s previously disclosed growth opportunities, reduce amounts outstanding on APUC&#8217;s credit facilities and for general corporate purposes.<\/p><\/blockquote>\n<p>AQN.PR.D is a FixedReset, 5.00%+328, <a href=\"http:\/\/prefblog.com\/?p=24497\">announced February 24<\/a>. It will be tracked by HIMIPref&trade; but relegated to the Scraps subindex on credit concerns.<\/p>\n<p>The issue traded 86,910 shares today in a range of 24.25-64 before closing at 24.26-38, 10&#215;3. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>AQN.PR.D<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2044-03-05<br \/>\nMaturity Price  : 22.88<br \/>\nEvaluated at bid price : 24.26<br \/>\nBid-YTW : 5.03 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Algonquin Power &#038; Utilities Corp. has announced: the closing of the previously announced offering of Cumulative Rate Reset Preferred Shares, Series D (the &#8220;Series D Shares&#8221;). APUC issued a total of 4,000,000 Series D Shares &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-24585","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24585","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=24585"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24585\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}