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Atlantic Power Corporatio | Cumulative Rate Reset Preferred Shares, Series 2 (AZP.PRB.CA)
Prospectus excerpt: The Series 2 Shares will not be redeemable by the Corporation prior to December 31, 2014. On December 31, 2014 and on December 31 every five years thereafter, subject to certain other restrictions set out in "Details of the Offering - Provisions Common to the Series 2 Shares and the Series 3 shares - Restrictions on Dividends and Retirement of Shares", the Corporation may, at its option, upon not less than 30 days and not more than 60 days prior written notice, redeem all or any number of the outstanding Series 2 Shares by the payment of $25.00 in cash per Series 2 Share together with all declared and unpaid dividends to but excluding the date fixed for redemption (less any tax required to be deducted and withheld by the Corporation). Full Prospectus PDF », ATP.CA Page »
| Series: | 2 | | Alternate symbology: | AZP-B.CA, AZP-PB.CA, AZPprB.CA | | Redeemable?: | Yes | | Call Date: | 12/31/2014 (Now Trading Post Call Date) | | Perpetual?: | Yes | | Cumulative?: | Yes | | Conversion Ratio: | Holders of the Series 2 Shares will have the right, at their option, to convert their Series 2 Shares into Cumulative Floating Rate Preferred Shares, Series 3 (the "Series 3 Shares"), on the basis of one Series 3 Share for each Series 2 Share subject to certain conditions, on December 31, 2014 and on December 31 every five years thereafter. Series 3 Shares will be entitled to floating rate cumulative preferential cash dividends, if, as and when declared by the Board of Directors, payable quarterly on the last business day of each of March, June, September and December in an amount per Series 3 Share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. The Floating Quarterly Dividend Rate for any Quarterly Floating Rate Period (as defined herein) will be equal to the sum of the T-Bill Rate (as defined herein) plus 4.18% per annum (calculated on the basis of the actual number of days in the applicable Quarterly Floating Rate Period divided by 365) determined on the Floating Rate Calculation Date (as defined herein). | | Shares Offered: | 4000000 | | Liquidation Preference: | $25 | | Original Coupon: | .75 per Series 2 Share for the initial five-year period ending on December 31, 2014 then for each five-year period after the Initial Fixed Rate Period (each, a Subsequent | | Pay Period: | Quarterly | | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | | CDx3 Compliance Rating: |
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The Company is an independent electric power producer that owns interests in a diversified portfolio of independent non-utility power generation projects and one transmission line situated in main U.S. markets. Preferreds: AZP.PRA.CA, AZP.PRB.CA
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