Business
Capital Power announces common share offering
Jun. 29, 2011 (Canada NewsWire Group) -- /NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR...
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n Jun. 29, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n THE UNITED STATES/\n\n\nEDMONTON, June 29, 2011 /CNW/ - Capital Power Corporation (TSX: CPX)\n ("Capital Power") announced today that it has entered into an agreement\n to sell 8,000,000 common shares of Capital Power on a bought deal basis\n at a price of $25.10 per share to a syndicate of underwriters, co-led\n by TD Securities Inc. and RBC Capital Markets, for gross proceeds of\n $200,800,000. In addition, Capital Power has granted the syndicate an\n over-allotment option, exercisable for a period of 30 days following\n closing, to purchase up to an additional 1,200,000 shares which, if\n exercised, would increase the gross offering size to $230,920,000.  The\n offering is scheduled to close on or about July 12, 2011 and is subject\n to TSX approval and other customary conditions.\n\n\nUpon closing of the Offering, Capital Power will use the net proceeds\n raised to subscribe for and purchase 8,000,000 additional common\n limited partnership units of Capital Power L.P. (the "Partnership")\n (9,200,000 additional common limited partnership units of the\n Partnership if the Over-Allotment Option is exercised in full). The\n Partnership will use the funds received from Capital Power to repay a\n portion of the outstanding balance under its credit facilities, which\n were drawn down to fund the acquisitions of the New En...