Examples of Series 9 Preferred Units in a sentence
In January 2018, our partnership issued 8 million Series 9 Preferred Units, at C$25 per unit with a quarterly fixed distribution at a rate of 5.00% annually for the initial period ending March 31, 2023.
In total, $190 million or C$250 million of gross proceeds were raised and $5 million in underwriting and issuance costs were incurred.In January 2018, our partnership issued 8 million Series 9 Preferred Units, at C$25 per unit with a quarterly fixed distribution at a rate of 5.00% annually for the initial period ending March 31, 2023.
The holders of the Series 9 Preferred Units are entitled to receive a cumulative quarterly fixed distribution yielding 5.75% for the initial period ending July 31, 2021.
The following table sets forth the reported high and low trading prices and trading volumes of the Series 1 Preferred Units, Series 3 Preferred Units, Series 5 Preferred Units, Series 7 Preferred Units and the Series 9 Preferred Units as reported by the TSX for the periods indicated.
On March 31, 2023 and on March 31 every five years thereafter (each, a “Series 9 Reclassification Date”), the Partnership may, subject to applicable law, at its option without the consent of the holders, redeem all or any part of the then outstanding Series 9 Preferred Units by the payment of C$25.00 per unit together with all accrued and unpaid distributions thereon up to but excluding the date of payment or distribution (less any tax required to be deducted and withheld).
Q3 2019 INTERIM REPORT 35In January 2018, our partnership issued 8 million Series 9 Preferred Units, at C$25 per unit with a quarterly fixed distribution at a rate of 5.00% annually for the initial period ending March 31, 2023.
Purchase for CancellationThe Partnership may purchase (if obtainable) for cancellation the whole or any part of the Series 9 Preferred Units in the open market or by private agreement or otherwise, at the lowest price obtainable in the opinion of the General Partner.
Under Brookfield Renewable’s prior normal course issuer bid that commenced on July 9, 2020 and expires on July 8, 2021, Brookfield Renewable previously sought and received approval from the TSX to repurchase up to 288,549 Series 5 Preferred Units, 700,000 Series 7 Preferred Units, 800,000 Series 9 Preferred Units, 1,000,000 Series 11 Preferred Units, 1,000,000 Series 13 Preferred Units and 700,000 Series 15 Preferred Units.
Such a reclassification of Series 9 Preferred Units for Series 10 Preferred Units must be initiated not less than 15 days and not more than 30 days prior to a Series 9 Reclassification Date.
Q3 2019 INTERIM REPORT 35 In January 2018, our partnership issued 8 million Series 9 Preferred Units, at C$25 per unit with a quarterly fixed distribution at a rate of 5.00% annually for the initial period ending March 31, 2023.