Veresen greenshoe exercised, increasing preferreds to C$200 million

By Ashley Montgomery

Kansas City, Kan., Feb. 14 - Veresen Inc. said the underwriters of its 4.4% series A cumulative redeemable preferred shares exercised their over-allotment option in full with the sale of an additional 2 million shares, bringing the total proceeds to C$200 million, according to a news release.

The offering has closed, the release said.

The original issuance was 6 million preferred shares (DBRS: Pfd-3) at C$25.00 per share.

Scotiabank and TD Securities Inc. were the bookrunners on the deal. The syndicate of underwriters also included CIBC, RBC Capital Markets, BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp. and HSBC Securities (Canada) Inc.

Veresen, based in Calgary, Alta, owns and operates energy infrastructure.

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