{"id":42646,"date":"2021-10-16T10:01:53","date_gmt":"2021-10-16T15:01:53","guid":{"rendered":"http:\/\/prefblog.com\/?p=42646"},"modified":"2021-10-16T10:01:53","modified_gmt":"2021-10-16T15:01:53","slug":"pwf-pf-a-soft-on-reasonable-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42646","title":{"rendered":"PWF.PF.A Soft On Reasonable Volume"},"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-closing-of-power-financial-preferred-share-issue-122610\/\">have announced<\/a>:<\/p>\n<blockquote><p>the closing of Power Financial&#8217;s previously announced offering of 8,000,000 4.50% Non-Cumulative First Preferred Shares, Series 23 in the capital of Power Financial (the &#8220;Series 23 Shares&#8221;) priced at $25.00 per share for gross proceeds of $200 million. The issue was bought by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank.<\/p>\n<p>The Series 23 Shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol &#8220;PWF.PF.A&#8221;. The net proceeds of this offering will be used by Power Financial for general corporate purposes. Power Financial intends to redeem all of its outstanding $200 million 6.00% Non-Cumulative First Preferred Shares, Series I.<\/p><\/blockquote>\n<p>PWF.PF.A is a Straight Perpetual, 4.50%, <a href=\"http:\/\/prefblog.com\/?p=42607\">announced 2021-10-6<\/a>. It will be tracked by HIMIPref&trade; and has been assigned to the PerpetualDiscount subindex.<\/p>\n<p>The issue traded 736,260 shares today in a range of 24.65-83 before closing at 24.65-80. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=1>\n<tr>\n<td>PWF.PF.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2051-10-15<br \/>\nMaturity Price  : 24.26<br \/>\nEvaluated at bid price : 24.65<br \/>\nBid-YTW : 4.56 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Power Corporation of Canada and Power Financial Corporation have announced: the closing of Power Financial&#8217;s previously announced offering of 8,000,000 4.50% Non-Cumulative First Preferred Shares, Series 23 in the capital of Power Financial (the &#8220;Series &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-42646","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42646","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=42646"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42646\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}