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| Home : Algonquin Power & Utilities Corp. Announces C$1 Billion Bought Deal Offering of Convertible Debentures Represented by Instalment Receipts |
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Feb 10
2016 |
Algonquin Power & Utilities Corp. Announces C$1 Billion Bought Deal Offering of Convertible Debentures Represented by Instalment Receipts |
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OAKVILLE, ONTARIO--(Marketwired - Feb. 9, 2016) - Algonquin Power & Utilities Corp. ("APUC" or the "Company") (TSX:AQN) today announced that APUC and its direct wholly-owned subsidiary, Liberty Utilities (Canada) Corp. (the "Selling Debentureholder"), have entered into an agreement with a syndicate of underwriters (the "Underwriters") led by CIBC Capital Markets and Scotiabank, under which the Underwriters have agreed to buy, on a bought deal basis, C$1 billion aggregate principal amount of 5.00% convertible unsecured subordinated debentures ("Debentures") of APUC (the "Offering"). In connection with the Offering, the underwriters have also been granted a 15% over-allotment option to purchase additional Debentures within 30 days from the date of the closing of the Offering solely to cover over-allotments, if any, and for market stabilization purposes. |
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| Source:http://www.marketwired.com/mw/release.do?id=2095321&sourceType=3 |
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