{"id":42607,"date":"2021-10-06T18:44:44","date_gmt":"2021-10-06T23:44:44","guid":{"rendered":"http:\/\/prefblog.com\/?p=42607"},"modified":"2021-10-06T18:44:44","modified_gmt":"2021-10-06T23:44:44","slug":"new-issue-pwf-straight-perpetual-4-50","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42607","title":{"rendered":"New Issue: PWF Straight Perpetual 4.50%"},"content":{"rendered":"<p>Power Corporation of Canada and Power Financial Corporation <a href=\"https:\/\/www.powerfinancial.com\/en\/news\/press-releases\/2021\/power-corporation-and-power-financial-announce-issue-of-power-financial-preferred-shares-122609\/\">have announced<\/a>:<\/p>\n<blockquote><p>that Power Financial has agreed to issue 8,000,000 Non-Cumulative First Preferred Shares, Series 23 in the capital of Power Financial (the \u201cSeries 23 Shares\u201d) on a bought deal basis, for gross proceeds of $200 million. The Series 23 Shares will be priced at $25.00 per share and will carry an annual dividend yield of 4.50%. Closing is expected on or about October 15, 2021. The issue will be underwritten by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank.<\/p>\n<p>The net proceeds of this offering will be used by Power Financial for general corporate purposes. Upon completion of the offering, Power Financial intends to redeem all of its outstanding $200 million First Preferred Shares, Series I.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Power Corporation of Canada and Power Financial Corporation have announced: that Power Financial has agreed to issue 8,000,000 Non-Cumulative First Preferred Shares, Series 23 in the capital of Power Financial (the \u201cSeries 23 Shares\u201d) on &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-42607","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42607","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=42607"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42607\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}