Canadian Utilities to redeem all C$150 million of series X preferreds

By Tali David

Minneapolis, May 30 - Canadian Utilities Ltd. plans to redeem all C$150 million of its outstanding cumulative redeemable second preferred shares, series X, according to a press release.

The preferreds will be redeemed at C$25 each on June 30.

The redemption will be funded with the net proceeds of a new preferred offering and cash.

Calgary, Alta.-based Canadian Utilities operates in the utilities, energy and technologies sectors.

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