Business
Power Corporation of Canada - Issue of debentures
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nReaders are referred to the section entitled "Forward-looking\n\n\nStatements" at the end of this release\n\n\nMONTREAL, April 15 /CNW Telbec/ - Power Corporation of Canada announced\ntoday that it has priced the issuance of an aggregate principal amount of $400\nmillion debentures (the "Debentures") consisting of $250 million principal\namount of 7.57% debentures due April 22, 2019 (the "10 Year Debentures") and\n$150 million principal amount of 8.57% debentures due April 22, 2039 (the "30\nYear Debentures"). The Debentures will be offered through a group of agents to\nbe led by BMO Nesbitt Burns Inc. and Scotia Capital Inc.\n\n\nThe 10 Year Debentures will be dated April 20, 2009 and will mature on\nApril 22, 2019. Interest on the 10 Year Debentures at the rate of 7.57% per\nannum will be payable semi-annually in arrears in April and October in each\nyear, commencing October 22, 2009, until April 22, 2019. The 10 Year\nDebentures have been priced to provide a yield to maturity of 7.578%.\n\n\nThe 30 Year Debentures will be dated April 20, 2009 and will mature on\nApril 22, 2039. Interest on the 30 Year Debentures at the rate of 8.57% per\nannum will be payable semi-annually in arrears in April and October in each\nyear, commencing October 22, 2009, until April 22, 2039. The 30 Year\nDebentures have been priced to provide a yield to maturity of 8.577%.\n\n\nThe credit rating for senior unsecured Power debentures assigned by S&P\nis A and by DBRS is A(High).\n\n\nThe offering of Debentures is expected to close on or about April 20,\n2009. The net proceeds will be used to supplement the Corporation's financial\nresources and for general corporate purposes.\n\n\nThe offering will be made pursuant to a prospectus supplement to Power's\nshort form base shelf prospectus dated November 18, 2008. The supplement, once\nfiled, will be available on SEDAR at www.sedar.com.\n\n\nThe securities offered have not been and will not be registered under the\nU.S. Securities Act of 1933, as amended, and may not be offered or sold in the\nUnited States absent registration or an applicable exemption from the\nregistration requirements. This press release shall not constitute an offer to\nse...