{"id":48171,"date":"2017-02-23T22:24:00","date_gmt":"2017-02-24T03:24:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48171"},"modified":"2025-07-10T22:26:06","modified_gmt":"2025-07-11T02:26:06","slug":"ala-pr-k-firm-on-excellent-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48171","title":{"rendered":"ALA.PR.K Firm On Excellent Volume"},"content":{"rendered":"

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

\n

that it has closed its previously announced public offering of 12,000,000 Cumulative 5-Year Minimum Rate Reset Redeemable Preferred Shares, Series K (the “Series K Preferred Shares”), at a price of $25.00 per Series K Preferred Share (the “Offering”) for aggregate gross proceeds of $300 million. <\/p>\n

The Offering was first announced on February 13, 2017 when AltaGas entered into an agreement with a syndicate of underwriters co-led by CIBC Capital Markets, BMO Capital Markets, National Bank Financial Inc. and Scotiabank. <\/p>\n

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

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

ALA.PR.K is a FixedReset, 5.00%+380M500, announced 2017-2-13<\/a>. It will be tracked by HIMIPref™ but relegated to the Scraps subindex on credit concerns.<\/p>\n

The issue traded 1,402,187 shares today in a range of 25.01-10 before closing at 25.09-11, 6×10. Vital statistics are:<\/p>\n

\n\n\n
ALA.PR.K<\/td>\nFixedReset<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-02-22
\nMaturity Price : 23.18
\nEvaluated at bid price : 25.09
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

Implied Volatility analysis indicates that while the new issue is reasonably a little cheap, a cheaper alternative for this name is available with ALA.PR.A:<\/p>\n

\"impvol_ala_170222\"<\/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 12,000,000 Cumulative 5-Year Minimum Rate Reset Redeemable Preferred Shares, Series K (the “Series K 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-48171","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48171","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=48171"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48171\/revisions"}],"predecessor-version":[{"id":48172,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48171\/revisions\/48172"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}