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Capstone Infrastructure Corp | Cumulative 5-Year Rate Reset Preferred Shares, Series A (CSE.PRA.CA)
Prospectus excerpt: This short form prospectus qualifies the distribution of 3,000,000 Cumulative 5-Year Rate Reset Preferred Shares, Series A (the ‘‘Series A Preferred Shares’’) of Capstone Infrastructure Corporation (the ‘‘Corporation’’) at a price of $25.00 per Series A Preferred Share (the ‘‘Offering’’). The holders of the Series A Preferred Shares will be entitled to receive fixed, cumulative, preferential cash dividends, if, as and when declared by the Corporation’s board of directors (the ‘‘Board of Directors’’) for the initial period from and including the closing date of this Offering up to but excluding July 31, 2016 (the ‘‘Initial Fixed Rate Period’’) payable quarterly on the last day of January, April, July and October in each year at an annual rate of $1.25 per share. If any such date is not a Business Day (as defined herein), the dividend will be paid on the next succeeding Business Day. The initial dividend, if declared, will be payable on October 31, 2011 and will be $0.4212 per share, based on the anticipated closing date of this Offering of June 30, 2011 (the ‘‘Closing Date’’). Further particulars concerning the attributes of the Series A Preferred Shares are set out below and under ‘‘Details of the Offering’’. For each five-year period after the Initial Fixed Rate Period (each, a ‘‘Subsequent Fixed Rate Period’’), the holders of Series A Preferred Shares will be entitled to receive fixed, cumulative, preferential cash dividends, if, as and when declared by the Board of Directors, payable quarterly on the last day of January, April, July and October in each year, in the amount per share per annum determined by multiplying the Annual Fixed Dividend Rate (as defined herein) applicable to such Subsequent Fixed Rate Period by $25.00. If any such date is not a Business Day, the dividend will be paid on the next succeeding Business Day. The Annual Fixed Dividend Rate will be equal to the sum of the Government of Canada Yield (as defined herein) on the 30th day prior to the first day of the applicable Subsequent Fixed Rate Period plus 2.71%. See ‘‘Details of the Offering’’. Full Prospectus PDF », CSE.CA Page »
Series: | A | Alternate symbology: | CSE-A.CA, CSE-PA.CA, CSEprA.CA | Redeemable?: | Yes | Call Date: | 7/31/2016 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Conversion Ratio: | Subject to the Corporation’s right to redeem Series A Preferred Shares, the holders of Series A Preferred Shares will have the right, at their option, to convert their Series A Preferred Shares into Cumulative Floating Rate Preferred Shares, Series B (the ‘‘Series B Preferred Shares’’, and together with the Series A Preferred Shares, the ‘‘Preferred Shares’’), subject to certain conditions, on July 31, 2016 and on July 31 every five years thereafter. The holders of Series B Preferred Shares will be entitled to receive floating rate cumulative preferential cash dividends, if, as and when declared by the Board of Directors, payable quarterly on the last day of January, April, July and October in each year (the initial quarterly dividend period and each subsequent quarterly dividend period is referred to as a ‘‘Quarterly Floating Rate Period’’), in the amount per share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. If any such date is not a Business Day, the dividend will be paid on the next succeeding Business Day. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined herein) plus 2.71% (calculated on the basis of the actual number of days in the applicable Quarterly Floating Rate Period divided by 365) determined as of the 30th day prior to the first day of the applicable Quarterly Floating Rate Period. See ‘‘Details of the Offering’’. | Shares Offered: | 3000000 | Overallotment: | 450,000 | Liquidation Preference: | $25 | Recent Market Price: | $13.68 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-11.32 (-45.28%) | Annualized Dividend: | 0.9256 | Recent Ex-Date: | 4/12/2024 | Current Yield: | 6.77% | Original Coupon: | 5.00% | Pay Period: | Quarterly | Pay Dates: | 31-Jan, 30-Apr, 31-Jul, 31-Oct | CDx3 Compliance Rating: |
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Macquarie Power & Infrastructure is engaged in owning and operating infrastructure businesses. Through its subsidiaries, Co. owns, operates and has investments in power infrastructure, including gas cogeneration, wind, hydro, biomass and solar power generating facilities. Preferred: CSE.PRA.CA Open the CSE.CA Information Page »
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