On December 22, 2009, Macquarie Power & Infrastructure Income Fund (TSX: MPT.UN) (the Fund) announced that it has closed its previously announced public offering of C$50 million principal amount of 6.50% convertible unsecured subordinated debentures due December 31, 2016 (the debentures). The debentures were sold to a syndicate of underwriters led by TD Securities Inc. and BMO Capital Markets and including RBC Capital Markets, Macquarie Capital Markets Canada Ltd., CIBC, Brookfield Financial Corp., HSBC Securities (Canada) Inc., Cormark Securities Inc. and Genuity Capital Markets (the underwriters) on a bought deal basis. The underwriters are entitled, pursuant to an over-allotment option exercisable in whole or in part at any time up until 30 days after the closing date, to purchase an additional C$7.5 million principal amount of debentures which, if exercised in full, would increase the gross proceeds of the offering to C$57.5 million.
Proceeds from the offering of the debentures will be used to redeem the Fund’s outstanding 6.75% convertible unsecured subordinated debentures due December 31, 2010, and for general purposes of the Fund.
Further information is found on Macquarie's website.