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Capital Power closes C$200M preferred offering

Capital PowerCorp. closed the sale of 8 million series 7 preferred shares at C$25 apiece forgross proceeds of C$200 million, according an Oct. 4 release.

The company sold the cumulative minimum rate resetpreference shares ona bought-deal basis with a syndicate of underwriters, led by TD Securities Inc.and CIBC Capital Markets.

Capital Power will use the proceeds to reduce debt under itscredit facilities.