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Algonquin Power & Utilities Corp. Announces Pricing of US$250 Million Subordinated Debt Offering
Algonquin Power & Utilities Corp. Announces Pricing of US$250 Million Subordinated Deb...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n\n\n\nAlgonquin Power & Utilities Corp. Announces Pricing of US$250 Million Subordinated Debt Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAlgonquin Power & Utilities Corp. Announces Pricing of US$250 Million Subordinated Debt Offering\nCanada NewsWire\nOAKVILLE, ON, Oct. 10, 2018\n\n\n\nOAKVILLE, ON, Oct. 10, 2018 /CNW/ - Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) (\"APUC\" or the \"Company\") today announced that it has priced an underwritten public offering of US$250 million aggregate principal amount of 6.875% fixed-to-floating subordinated notes due October 17, 2078 (the \"Notes\").  The sale of the Notes is expected to close on or about October 17, 2018, subject to customary closing conditions.  APUC intends to use the net proceeds from the offering for general corporate purposes, including the repayment of outstanding indebtedness. APUC intends to apply for listing of the Notes on the New York Stock Exchange.\nThe joint book-running managers for the offering are BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Wells Fargo Securities and RBC Capital Markets and the co-managers for the offering are BMO Capital Markets and CIBC Capital Markets (collectively, the \"Underwriters\").  APUC has granted a 13-day option to the Underwriters to purchase up to an additional US$37.5 million aggregate principal amount of Notes at the public offering price, less the underwriting discount, to cover over-allotments, if any. \nThe offering is being made to the public only by means of a short form base shelf prospectus and related prospectus supplement, which are part of an effective registration statement filed with the U.S. Securities and Exchange Commission (\"SEC\"). The terms of the Notes will be set forth in a final prospectus supplement to be filed by APUC under APUC's issuer profile on SEDAR at www.sedar.com and with the SEC at www.sec.gov. The short form base shelf prospectus and the related prospectus supplement will contain important information about the Notes. Investors should read the short form base shelf prospectus...