AZP.PR.B Prospectus

The following is a  set of excerpts from the prospectus document for AZP.PR.B. The excerpts highlight the most relevant information an investor should know when analyzing this preferred. A link to the prospectus is provided lower in this page.  The original document for AZP.PR.B prospectus Preferred Shares Series I was used for the excerpts and the important information was highlighted for quick access.

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Excerpt: Size and initial yield

On October 13, 2009, EPCOR Power L.P. (collectively with its subsidiaries, the “Partnership”) announced that its subsidiary, EPCOR Power Equity Ltd. (“the Issuer” or the “Corporation”) will issue 4,000,000 7.00% Cumulative Rate Reset Preference Shares, Series 2 (the “Series 2 Shares”) at a price of $25.00 per Series 2 Share.

Excerpt: Reset Date and Yield Terms

The Series 2 Shares will pay fixed cumulative dividends of $1.75 per share per annum, yielding 7.0% per annum, payable on the last business day of March, June, September and December of each year.

Excerpt: Conversion Terms

The holders of Series 2 Shares will have the right to convert their shares into Cumulative Floating Rate Preferred Shares, Series 3 (the “Series 3 Shares”) of the Corporation, subject to certain conditions, on December 31, 2014 and on December 31 of every fifth year thereafter. The holders of Series 3 Shares will be entitled to receive quarterly floating rate cumulative dividends, as and when declared by the board of directors of the Corporation, at a rate equal to the sum of the then 90-day Government of Canada treasury bill rate and 4.18%.

AZP.PR.B Prospects. Original Document

I have presented the most important information regarding the Series II preferreds. If you need to go through the original and complete document for AZP.PR.B Atlantic power is available here.