Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, September 19, 6:09 AM
Slide #494. Bell Aliant Inc. — Preferred Stock Offering
||Bell Aliant Inc. (BA.CA)
|Date of Pricing:
|Price Per Share:
|Preferred Stock Offering Details:
||Bell Aliant Inc. ("Bell Aliant") (TSX: BA) announced today that its subsidiary Bell Aliant Preferred Equity Inc. (the "Company") will be issuing 8,000,000 Cumulative 5-Year Rate Reset Preferred Shares, Series E (the "Series E Preferred Shares"), at a price of $25.00 per Series E Preferred Share, for aggregate gross proceeds of $200 million on a bought-deal basis to a syndicate of underwriters led by Scotiabank, TD Securities Inc., and CIBC. The underwriters have been granted an over-allotment option to purchase an additional 1,200,000 Series E Preferred Shares at the offering price. Should the over-allotment option be fully exercised, the total gross proceeds of the Series E Preferred Share offering will be $230 million.
Bell Aliant, through its subsidiaries, is engaged in the provision of telecommunications services in Atlantic Canada, Ontario and Quebec. Co. provides a range of information, communication and technology services including voice, data, Internet, video, wireless and value-added business solutions to its customers. Co.'s services include local and network access service; long distance toll services; data and internet including high-speed and dial-up access; and others including wireless, outsourcing, cable TV, telecommunications product sales and telephone set rentals.
Preferreds: BAF.PRA.CA, BAF.PRC.CA, BAF.PRE.CA
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