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Just Energy Group Inc | 8.50% Series A Fixed-to-Floating Rate Cumulative Redeemable (JE.PRA)
Prospectus excerpt: Just Energy Group Inc. ("Just Energy" or the "Corporation") hereby offers, and this prospectus supplement (the "Prospectus Supplement") qualifies the distribution of, 4,000,000 8.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares of the Corporation (the "Series A Preferred Shares") to be sold at a price (the "Offering Price") of US$25.00 per Series A Preferred Share (the "Offering"). During each dividend period (as defined herein) from, and including, the date of original issuance to, but not including, March 31, 2022, dividends on the Series A Preferred Shares will accrue at the rate of 8.50% per annum of the US$25.00 liquidation preference per Series A Preferred Share. During each dividend period from, and including, March 31, 2022, to, but not including, March 31, 2027, dividends on the Series A Preferred Shares will accrue at an annual rate equal to the sum of (i) 6.48% plus the Mid Market Swap Rate (as defined herein) as calculated on the immediately preceding dividend payment date (as defined herein) and (ii) 0.50%, of the US$25.00 liquidation preference per Series A Preferred Share. During each dividend period from and including March 31, 2027, and thereafter, dividends on the Series A Preferred Shares will accrue at an annual rate equal to the sum of (i) 6.48% plus the Mid Market Swap Rate as calculated on the immediately preceding dividend payment date and (ii) 1.00%, of the US$25.00 liquidation preference per Series A Preferred Share. The attributes of the Series A Preferred Shares are set out below under the heading "Description of the Series A Preferred Shares". Full Prospectus PDF », Secondary Prospectus PDF », JE Page »
Series: | A | Alternate symbology: | JE-A, JE-PA, JEprA | Redeemable?: | Yes | Call Date: | 3/31/2022 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 4,000,000 | Overallotment: | 600,000 | Liquidation Preference: | $25.00 | Original Coupon: | 8.50% | Pay Period: | Quarterly | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | CDx3 Compliance Rating: |
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Just Energy Group is engaged in the sale of natural gas and or electricity to residential and commercial customers, under long-term fixed-price, price-protected or variable-priced contracts, in Canada the U.S. and the United Kingdom. Through its subsidiaries, Co. is engaged in renting and selling tankless water heaters, furnaces and air conditioners and smart thermostats. Co. also offers green products through its JustGreen and JustGreen Lifestyle programs. Preferred: JE.PRA Open the JE Information Page »
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