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Capital Power Corp - $150M, 5.75% Mininum Rate Preferred Share New Issue

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Capital Power Corp is issuing $150M of 5.75% Minimum Rate Reset Cumulative Preferred Shares. The first dividend reset date is Jun-30-2024 at the 5-Year Government of Canada Bond Yield plus 4.15%, provided that, the rate shall not be less than 5.75%.

On Jun-1-2024 and on Jun-30 every five years thereafter, the holders will have the right to convert to Cumulative Floating Rate Preferred shares with a Floating Quarterly Dividend Rate for a quarter equal to the 3-month Government of Canada TBill Rate plus 4.15%.

The new issue is expected to open at $25.25 and is recommended.

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