{"id":8970,"date":"2009-12-07T12:58:42","date_gmt":"2009-12-07T16:58:42","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=8970"},"modified":"2009-12-07T12:58:42","modified_gmt":"2009-12-07T16:58:42","slug":"new-issue-ypg-fixedreset-690426","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=8970","title":{"rendered":"New Issue: YPG FixedReset 6.90%+426"},"content":{"rendered":"<p>Yellow Pages Income Fund <a href=\"http:\/\/www.ypg.com\/page.php\/en\/1\/635.html\">has announced<\/a>:<\/p>\n<blockquote><p> that its subsidiary, YPG Holdings Inc. (the \u201cIssuer\u201d), will be issuing 5,000,000 cumulative rate reset preferred shares, series 5 (the \u201cSeries 5 Preferred Shares\u201d) for aggregate gross proceeds of $125 million on a bought deal basis to a syndicate of underwriters led by BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and Scotia Capital Inc., acting as joint book-runners. The Series 5 Preferred Shares will pay cumulative dividends of $1.7250 per share per annum, yielding 6.90% per annum, payable quarterly, for the initial five and one-half year period ending June 30, 2015.  The dividend rate will be reset on June 30, 2015 and every five years thereafter at a rate equal to the 5-year Government of Canada bond yield plus 4.26 %. The Series 5 Preferred Shares will be redeemable by the Issuer on or after June 30, 2015, in accordance with their terms.<\/p>\n<p>Holders of the Series 5 Preferred Shares will have the right, at their option, to convert their shares into cumulative floating rate preferred shares, series 6, (the \u201cSeries 6 Preferred Shares\u201d) subject to certain conditions, on June 30, 2015 and on June 30 every five years thereafter.  Holders of the Series 6 Preferred Shares will be entitled to receive cumulative quarterly floating dividends at a rate equal to the three-month Government of Canada Treasury Bill yield plus 4.26 %.<\/p>\n<p>The Issuer has also granted the underwriters the option to purchase up to 750,000 additional Series 5 Preferred Shares to cover over-allotments, exercisable in whole or in part anytime up to 30 days following closing of the offering.<\/p>\n<p>Net proceeds resulting from the sale of the Series 5 Preferred Shares of the Issuer shall be used by the Issuer to repay indebtedness, and for general corporate purposes.<\/p><\/blockquote>\n<p>The first dividend is payable on March 29, 2010 for $0.45842, assuming a closing date of 2009-12-22.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yellow Pages Income Fund has announced: that its subsidiary, YPG Holdings Inc. (the \u201cIssuer\u201d), will be issuing 5,000,000 cumulative rate reset preferred shares, series 5 (the \u201cSeries 5 Preferred Shares\u201d) for aggregate gross proceeds of &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-8970","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8970","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=8970"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8970\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}