Canadian Utilities Limited Announces Closing of $175 Million Preferred Share Issue
19 Mars 2013 - 1:16PM
Marketwired
Canadian Utilities Limited announced today it has closed its
previously announced public offering of Cumulative Redeemable
Second Preferred Shares Series CC, by a syndicate of underwriters
co-led by BMO Capital Markets and RBC Capital Markets, and
including TD Securities Inc. and Scotiabank. Canadian Utilities
Limited issued 7,000,000 Series CC Preferred Shares for gross
proceeds of $175 million. The Series CC Preferred Shares will begin
trading on the TSX today under the symbol CU.PR.F. The proceeds
will be used for capital expenditures, to repay indebtedness and
for other general corporate purposes.
This news release does not constitute an offer to sell
securities, nor is it a solicitation of an offer to buy securities,
in any jurisdiction. All sales will be made through registered
securities dealers in jurisdictions where the offering has been
qualified for distribution.
Canadian Utilities Limited, an ATCO company, with more than
7,100 employees and assets of approximately $13 billion, delivers
service excellence and innovative business solutions worldwide with
leading companies engaged in utilities (pipelines, natural gas and
electricity transmission and distribution), energy (power
generation, natural gas gathering, processing, storage and liquids
extraction) and technologies (business systems solutions). More
information can be found at www.canadianutilities.com.
Forward-Looking Information:
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"anticipate", "plan", "expect", "may", "will", "intend", "should",
and similar expressions. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. The Corporation believes that the
expectations reflected in the forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon.
The Corporation's actual results could differ materially from
those anticipated in these forward-looking statements as a result
of regulatory decisions, competitive factors in the industries in
which the Corporation operates, prevailing economic conditions, and
other factors, many of which are beyond the control of the
Corporation.
The forward-looking statements contained in this news release
represent the Corporation's expectations as of the date hereof, and
are subject to change after such date. The Corporation disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required under applicable securities
regulations.
Contacts: Canadian Utilities Limited B.R. (Brian) Bale Senior
Vice President & Chief Financial Officer (403) 292-7502
www.canadianutilities.com
Canadian Utilities (TSX:CU.PR.D)
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