{"id":48453,"date":"2017-05-25T10:40:00","date_gmt":"2017-05-25T14:40:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48453"},"modified":"2025-07-21T10:42:11","modified_gmt":"2025-07-21T14:42:11","slug":"ecn-pr-c-sinks-on-light-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48453","title":{"rendered":"ECN.PR.C Sinks On Light Volume"},"content":{"rendered":"<p>ECN Capital Corp. <a href=\"http:\/\/ecncapitalcorp.com\/downloads\/2017-05-25-ECN-Capital-Announces-Close-of-Preferred-Shares-Offering.pdf\">has announced<\/a>:<\/p>\n<blockquote>\n<p>that it has closed the previously announced offering of 4,000,000 6.25% Cumulative 5-Year Minimum Rate Reset Preferred Shares, Series C (the \u201cSeries C Preferred Shares\u201d) at a price of $25.00 per share for aggregate gross proceeds of $100,000,000. The offering was conducted by a syndicate of underwriters co-led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial, RBC Capital Markets, TD Securities, and including Cormark Securities, Desjardins Securities, GMP Securities, HSBC Securities (Canada) and Raymond James.<\/p>\n<p>The Corporation intends to use the net proceeds to originate and finance, directly and indirectly, finance assets, to fund future acquisitions and for general corporate purposes.<\/p>\n<p>&#8220;We are grateful for the support shown by the market in the successful completion of this financing&#8221;, said Steve Hudson, Chief Executive Officer, &#8220;and we look forward to executing on our business plan and delivering value for our shareholders.&#8221;<\/p>\n<p>The Series C Preferred Shares will commence trading today on the Toronto Stock Exchange under the symbol \u201cECN.PR.C\u201d.<\/p>\n<\/blockquote>\n<p>ECN.PR.C is a FixedReset, 6.25%+519M625, <a href=\"https:\/\/prefblog.com\/?p=34847\">announced 2017-5-15<\/a>. It will be tracked by HIMIPref&trade; but relegated to the Scraps subindex on credit concerns.<\/p>\n<p>The issue traded 99,442 shares today in a range of 24.43-75 before closing at 24.44-52. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>ECN.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-05-25<br \/>\nMaturity Price  : 22.95<br \/>\nEvaluated at bid price : 24.44<br \/>\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ECN Capital Corp. has announced: that it has closed the previously announced offering of 4,000,000 6.25% Cumulative 5-Year Minimum Rate Reset Preferred Shares, Series C (the \u201cSeries C Preferred Shares\u201d) at a price of $25.00 &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-48453","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48453","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=48453"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48453\/revisions"}],"predecessor-version":[{"id":48454,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48453\/revisions\/48454"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}