AQNA Algonquin Power & Utilities Corp. 6.875% Fixed-to-Floating Rate Subordinated Notes Series 2018-A
From the Issue Date to, but excluding, October 17, 2023, the Notes will bear interest at the rate of 6.875% per annum, payable in arrears in equal quarterly payments. From October 17, 2023 until October 17, 2078, the interest rate on the Notes will be reset as follows: (i) starting on October 17, 2023, until October 17, 2028, the interest rate on the Notes will be equal to the three-month LIBOR plus 3.677%, with the first payment at such rate being on January 17, 2024; (ii) starting on October 17, 2028, until October 17, 2043, the interest rate on the Notes will be equal to the three-month LIBOR plus 3.927%, payable in arrears, with the first payment at such rate being on January 17, 2029; and (iii) starting on October 17, 2043, until October 17, 2078, the interest rate on the Notes will be equal to the three-month LIBOR plus 4.677%, payable in arrears, with the first payment at such rate being on January 17, 2044. On or after October 17, 2023, the Issuer may, at its option, on giving not more than 60 days nor less than 30 days’ prior notice, redeem the Notes in whole at any time or in part from time to time on any Interest Payment Date without the consent of the Holders, at a Redemption Price per $25.00 principal amount of the Notes together with accrued and unpaid interest. This security was issued by Algonquin Power & Utilities Corp., whose common stock symbol is AQN.
$25.72 -0.06 (-0.23%)
As of 08/09/2022 16:00:02 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Exchange traded debt
Category3: Long-term
GICS sector: Utilities
Industry: Utilities—Renewable
Index country: Canada
Country of incorporation: USA
IPO date: 10/23/2018
Outstanding shares: 11,500,000
Average volume: 12,196
Market cap: $298,770,000
Current dividend yield: 6.67% calculation
Initial coupon rate: 6.875%
Spread to LIBOR: 0.039270
Liquidation value: $25.00
Callable after: 10/17/2023
Maturity date: 10/17/2078
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Annual filings: 40-F
Sedol: BG0V242