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Power Corporation - Issue of Debentures
Power Corporation - Issue of Debentures Canada NewsWire MONTRÉAL, July 23, ...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\nPower Corporation - Issue of Debentures\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\n\nCanada NewsWire\nMONTRÉAL, July 23, 2018\n\n\n\nReaders are referred to the \"Forward-Looking Statements\" at the end of this release. \n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMONTRÉAL, July 23, 2018 /CNW Telbec/ - Power Corporation of Canada (\"Power Corporation\" or \"the Corporation\") (TSX: POW) today announced that it has priced the issuance of $250 million aggregate principal amount of 4.455% debentures due July 27, 2048 (the \"Debentures\"). The Debentures will be offered through a group of agents to be co-led by BMO Capital Markets and RBC Capital Markets.\n\nThe Debentures will be dated July 25, 2018 and will mature on July 27, 2048. Interest on the Debentures at the rate of 4.455% per annum will be payable semi-annually in arrears on January 27 and July 27 in each year, commencing January 27, 2019 until July 27, 2048. The Debentures have been priced to provide a yield to maturity of 4.455%. The Debentures are expected to be rated A by S&P Global Ratings and A by DBRS Limited.\n\nThe offering of the Debentures is expected to close on or about July 25, 2018. The net proceeds will be used by Power Corporation to fund the redemption of all of its $250 million aggregate principal amount of 7.57% debentures due April 22, 2019 (the \"2019 Debentures\").\n\nThe offering will be made pursuant to a prospectus supplement to Power Corporation's short form base shelf prospectus dated December 7, 2016. The supplement, once filed, will be available on SEDAR at www.sedar.com.\n\nThe securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer,...