{"id":25723,"date":"2014-07-03T20:44:00","date_gmt":"2014-07-04T01:44:00","guid":{"rendered":"http:\/\/prefblog.com\/?p=25723"},"modified":"2014-07-03T20:44:00","modified_gmt":"2014-07-04T01:44:00","slug":"ala-pr-g-reaches-premium-on-excellent-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=25723","title":{"rendered":"ALA.PR.G Reaches Premium On Excellent Volume"},"content":{"rendered":"

AltaGas Ltd. has announced<\/a>:<\/p>\n

that it has closed its previously announced public offering of 8,000,000 Cumulative Redeemable Rate Reset Preferred Shares, Series G (the “Series G Preferred Shares”), at a price of $25.00 per Series G Preferred Share (“the Offering”) for aggregate gross proceeds of $200 million, including 2,000,000 Series G Preferred Shares pursuant to the exercise in full of an underwriters’ option.<\/p>\n

The Offering was first announced on June 23, 2014 when AltaGas entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets, Scotiabank and TD Securities Inc.<\/p>\n

Net proceeds will be used to reduce outstanding indebtedness and for general corporate purposes.<\/p>\n

The Series G Preferred Shares will commence trading today on the Toronto Stock Exchange (“TSX”) under the symbol ALA.PR.G.<\/p>\n

AltaGas is an energy infrastructure business with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca<\/p><\/blockquote>\n

ALA.PR.G is a FixedReset, 4.75%+306, announced June 23<\/a>. It will be tracked by HIMIPref™ but relegated to the Scraps subindex on credit concerns. It has been rated Pfd-3 [Stable] by DBRS<\/a>.<\/p>\n

The issue traded 703,300 shares today in a range of 25.05-18 before closing at 25.11-14, 10×62. Vital statistics are:<\/p>\n

\n\n\n
ALA.PR.G<\/td>\nFixedReset<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-07-03
\nMaturity Price : 23.18
\nEvaluated at bid price : 25.10
\nBid-YTW : 4.53 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

AltaGas Ltd. has announced: that it has closed its previously announced public offering of 8,000,000 Cumulative Redeemable Rate Reset Preferred Shares, Series G (the “Series G Preferred Shares”), at a price of $25.00 per Series …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-25723","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25723","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=25723"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25723\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}