{"id":33735,"date":"2016-10-04T22:50:46","date_gmt":"2016-10-05T03:50:46","guid":{"rendered":"http:\/\/prefblog.com\/?p=33735"},"modified":"2016-10-04T22:50:46","modified_gmt":"2016-10-05T03:50:46","slug":"cpx-pr-g-closes-steady-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33735","title":{"rendered":"CPX.PR.G Closes Steady on Good Volume"},"content":{"rendered":"<p>Capital Power Corporation <a href=\"http:\/\/www.capitalpower.com\/MediaRoom\/newsreleases\/2016\/Pages\/16-10-04.aspx\">has announced<\/a>:<\/p>\n<blockquote><p> it has closed its previously announced offering of 8,000,000 Cumulative Minimum Rate Reset Preference Shares, Series 7 (the \u201cSeries 7 Shares\u201d) at a price of $25.00 per Series 7 Share for aggregate gross proceeds of $200 million on a bought deal basis with a syndicate of underwriters, led by TD Securities Inc. and CIBC Capital Markets.<\/p>\n<p>The Series 7 Shares will begin trading today on the TSX under the symbol CPX.PR.G.<\/p><\/blockquote>\n<p>CPX.PR.G is a FixedReset, 6.00%+526M600, <a href=\"http:\/\/prefblog.com\/?p=33687\">announced September 22<\/a>. It will be tracked by HIMIPref&trade; but relegated to the Scraps index on credit concerns. DBRS has <a href=\"http:\/\/www.dbrs.com\/research\/300293\/dbrs-rates-capital-power-corporation-s-200-million-preferred-share-issue-at-pfd-3-low-stable-trend.html\">rated it Pfd-3(low) [Stable]<\/a> in line with the corporation&#8217;s other preferred share issues.<\/p>\n<p>The issue traded 530,562 shares today in a range of 24.75-00 before closing at 24.99-00, 8&#215;199. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>CPX.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2046-10-04<br \/>\nMaturity Price  : 23.14<br \/>\nEvaluated at bid price : 24.99<br \/>\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Implied Volatility analysis simply leads to a repetition of my <a href=\"http:\/\/prefblog.com\/?p=33687\">previous analysis<\/a> &#8211; this is a very expensive issue.<\/p>\n<div align=\"center\"><a href=\"http:\/\/prefblog.com\/wp-content\/uploads\/2016\/10\/impVol_CPX_161004.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/prefblog.com\/wp-content\/uploads\/2016\/10\/impVol_CPX_161004-300x246.jpg\" alt=\"impVol_CPX_161004\" width=\"400\" height=\"328\" class=\"alignnone size-medium wp-image-33736\" \/><\/a><br \/><i>Click for Big<\/i><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Capital Power Corporation has announced: it has closed its previously announced offering of 8,000,000 Cumulative Minimum Rate Reset Preference Shares, Series 7 (the \u201cSeries 7 Shares\u201d) at a price of $25.00 per Series 7 Share &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-33735","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33735","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=33735"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33735\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}