Analyst Research

Report Title Price
Provider: ValuEngine, Inc.
Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Plunkett Research, Ltd.

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Power Financial Corp Increases Issue of Preferred Shares to $300 Million

Tuesday, 19 Feb 2013 02:47pm EST 

Power Financial Corp announced that due to demand, the Corporation has increased the size of its previously announced bought deal public offering to 12,000,000 Non-Cumulative First Preferred Shares, Series S (the Series S Shares) for gross proceeds of $300 million. The Series S Shares will be priced at $25.00 per share and will carry an annual dividend yield of 4.80%. Closing is expected to occur on or about February 28, 2013. The issue will be underwritten by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank. Proceeds from the issue will be used to acquire subscription receipts of Great-West Lifeco Inc. (Lifeco) exchangeable into common shares of Lifeco as part of the $1.25 billion offering of subscription receipts announced by Lifeco earlier in connection with its proposed acquisition of Irish Life Group Limited and to supplement Power Financial's financial resources. 

Related Company News

Company Quote

0.13 +0.38%
1:01pm EDT