By James McCandless
San Antonio, Aug. 26 – ECN Capital Corp. priced a C$75 million offering of C$1,000-par senior debentures due Dec. 31, 2025 at par with a coupon of 6%, according to a press release.
There is an C$11.25 million greenshoe.
CIBC Capital Markets, BMO Capital Markets and National Bank Financial Inc. are the bookrunners.
The debentures are redeemable on or after Dec. 31, 2023 to Dec. 31, 2024 at 103. After Dec. 31, 2024, the debentures are redeemable at par.
The company plans to list the debentures on the Toronto Stock Exchange.
ECN Capital is a Toronto-based asset manager.
| Issuer: | ECN Capital Corp.
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| Description: | Senior debentures
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| Amount: | C$75 million
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| Greenshoe: | C$11.25 million
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| Maturity: | Dec. 31, 2025
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| Bookrunners: | CIBC Capital Markets, BMO Capital Markets and National Bank Financial Inc.
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| Coupon: | 6%
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| Price: | Par of C$1,000
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| Yield: | 6%
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| Call: | On or after Dec. 31, 2023 to Dec. 31, 2024 at 103%; after Dec. 31, 2024 at par
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| Pricing date: | Aug. 26
|
| Settlement date: | Sept. 4
|
| Distribution: | Canada
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| Listing: | Toronto Stock Exchange
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