{"id":31338,"date":"2015-11-24T00:13:46","date_gmt":"2015-11-24T05:13:46","guid":{"rendered":"http:\/\/prefblog.com\/?p=31338"},"modified":"2015-11-24T00:13:46","modified_gmt":"2015-11-24T05:13:46","slug":"ala-pr-i-firm-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=31338","title":{"rendered":"ALA.PR.I Firm on Good 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 5-Year Minimum Rate Reset Preferred Shares, Series I (the “Series I Preferred Shares”), at a price of $25.00 per Series I Preferred Share (“the Offering”) for aggregate gross proceeds of $200 million.<\/p>\n

The Offering was first announced on November 12, 2015 when AltaGas entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets, BMO Capital Markets and Scotiabank.<\/p>\n

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

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

ALA.PR.I is a FixedReset, 5.25%+419M525, announced November 12<\/a>. The issue will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.<\/p>\n

The issue traded 844,179 shares today (consolidated exchanges) in a range of 24.97-20 before closing at 25.05-07, 10×40. Vital statistics are:<\/p>\n

\n\n\n
ALA.PR.I<\/td>\nFixedReset<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2045-11-23
\nMaturity Price : 23.17
\nEvaluated at bid price : 25.05
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The Implied Volatility fit isn’t very good …<\/p>\n

\"impVol_ALA_151123\"<\/a>
Click for Big<\/i><\/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 5-Year Minimum Rate Reset Preferred Shares, Series I (the “Series I Preferred Shares”), at a price of $25.00 …<\/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-31338","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/31338","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=31338"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/31338\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}