Business
Power Corporation of Canada - Issue of Preferred Shares
/ NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATE...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES/ \n\n\nReaders are referred to the section entitled \"Forward-looking\n Statements\" at the end of this release.\n\n\nMONTREAL, Feb. 15, 2012 /CNW Telbec/ - Power Corporation of Canada (TSX:\n POW) announced today that it has agreed to issue 6,000,000\n Non-Cumulative First Preferred Shares, Series G (the \"Series G Shares\")\n on a bought deal basis, for gross proceeds of $150 million. The Series\n G Shares will be priced at $25.00 per share and will carry an annual\n dividend yield of 5.60%. Closing is expected on or about February 28,\n 2012. The issue will be underwritten by a syndicate of underwriters led\n by BMO Capital Markets, RBC Capital Markets and Scotiabank.\n\n\nPower Corporation of Canada has also granted the underwriters an option\n to purchase an additional 2,000,000 Series G Shares at the same\n offering price. Should the underwriters' option be exercised fully, the\n total gross proceeds of the Series G Share offering will be\n $200 million.\n\n\nProceeds from the issue will be used to supplement the Corporation's\n financial resources and for general corporate purposes.\n\n\nThe securities offered have not been and will not be registered under\n the U.S. Securities Act of 1933, as amended, and may not be offered or\n sold in the United States absent registration or an applicable\n exemption from the registration requirements. This press release shall\n not constitute an offer to sell or the solicitation of an offer to buy\n nor shall there be any sale of the securities in any State in which\n such offer, solicitation or sale would be unlawful.\n\n\nPower Corporation of Canada is a diversified international management\n and holding company with interests in companies in the financial\n services, communications and other business sectors in North America,\n Europe and Asia.\n\n\nForward-Looking Statements\n\n\nCertain statements in this News Release, other than statements of\n historical fact, are forward-looking statements based on certain\n assumptions and reflect the Corporation's current expectations, or with\n respect to disclosure regarding the Corporation's public subsidiaries,\n reflects such subsidiaries' disclosed current expectations.\n Forward-looking statements are provided for the purpose...