{"id":9521,"date":"2010-01-26T20:03:38","date_gmt":"2010-01-27T00:03:38","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=9521"},"modified":"2010-01-26T20:03:38","modified_gmt":"2010-01-27T00:03:38","slug":"ftsprh","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=9521","title":{"rendered":"FTS.PR.H Starts off Strong"},"content":{"rendered":"<p>Fortis Inc. <a href=\"http:\/\/www.fortis.ca\/Attachments\/MediaReleases\/476.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that it has closed its public offering (the &#8220;Offering&#8221;) of Cumulative Redeemable Five-Year Fixed Rate Reset First Preference Shares, Series H (the &#8220;Series H First Preference Shares&#8221;) underwritten by a syndicate of underwriters led by TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc. and CIBC World Markets Inc. Fortis issued 10,000,000 Series H First Preference Shares at a price of $25.00 per share for gross proceeds to the Corporation of $250,000,000.<\/p><\/blockquote>\n<p>The issue is a FixedReset, 4.25%+<s>125<\/s> 145, <a href=\"http:\/\/www.prefblog.com\/?p=9336\">announced January 11<\/a>.<\/p>\n<p>The issue had a strong first day, trading 573,694 shares in a range of 24.95-20 before closing at 25.06-15, 100&#215;1.<\/p>\n<p>Vital Statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>FTS.PR.H<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2040-01-26<br \/>\nMaturity Price  : 25.01<br \/>\nEvaluated at bid price : 25.06<br \/>\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>FTS.PR.H is tracked by HIMIPref&trade;, but is relegated to the Scraps subindex on credit concerns.<br \/>\nThe net proceeds of the Offering will be used to repay borrowings under the Corporation&#8217;s committed credit facility and to inject additional equity into a regulated subsidiary.<\/p>\n<p>The Series H First Preference Shares will commence trading on the Toronto Stock Exchange on January 26, 2010 under the symbol FTS.PR.H.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fortis Inc. has announced: that it has closed its public offering (the &#8220;Offering&#8221;) of Cumulative Redeemable Five-Year Fixed Rate Reset First Preference Shares, Series H (the &#8220;Series H First Preference Shares&#8221;) underwritten by a syndicate &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-9521","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9521","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=9521"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/9521\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}