+ CPP Investments acquired the Trafford Centre, in Manchester, UK – the prime shopping centre in that city, CPPIB had previously provided financing to the owners, and this takes the property out of insolvency administration …tic toc
this week in REITs + TRUSTS
+ Choice Properties REIT completed an acquisition of a 6-property portfolio of industrial properties from Weston Foods (Canada) Inc. for $79.1 million
+ Alberta COVID-19 stats: 860 deaths to date, 19,165 active cases of 91,459 confirmed cases to date: aggregate Alberta data – currently, 795 Albertans are in the hospital with COVID-19, and 151 of those are in intensive care units
+ Cenovus Energy and Husky Energy merger is a go; shareholders of both companies approved the combination; Cenovus will acquire Husky and operate as Cenovus Energy Inc.; all regulatory approvals obtained so they anticipate a January 1st closing – no word yet on when the resultant layoffs of staff will unfold … tic toc
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices up, approaching US$50/bbl for WTI as inventories fell due to ‘good news’ on COVID vaccines – but prices abruptly retreated on news of the UK shutdown and shaky stock markets
+ rig counts (active/working) – up 8 to 346 this week; Canada: down 9 to 102 this week; full breakdown
+ Royal Dutch Shell announced it is writing down oil and gas assets between US$3.5-$4.5 billion due to impairments in GOM fields, refinery closings and LNG contracts – and these charges related to planned restructuring in 2021
+ Zevia LLC closed US$200.0 million equity raise by private placement
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*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower; we report ‘fresh raises’ and do not report secondary offerings or non-arm’s-length transactions …
SHAREHOLDER MEETINGS
+ Dec. 22; Genworth MI Canada Inc.; Special Meeting of Shareholders, Toronto
+ Dec. 22; Resverlogix Corp., Annual and Special Meeting of Shareholders, Calgary and virtual
+ Dec. 22; Zenith Capital Corp., Annual and Special Meeting of Shareholders, Calgary and virtual
+ Dec. 28; Stoneway Capital Corporation, Meeting of Noteholders, Toronto virtual only
+ Jan. 4; Canaccord Genuity Growth II Corp. Special Meeting of Shareholders, Toronto
+ Jan. 12; Alberta Real Estate Association, Annual General Meeting, Edmonton
+ Feb. 8; Interlapse Technologies Corp., Annual General and Extraordinary Meeting, Vancouver
+ Calgary’s Green Line LRT project is likely to be postponed as the city and provincial transportation authorities dither; it seems shovel-ready is a convenient term to toss out for Kenny and Trudeau, but this seems more complicated in politics than by facts … tic toc
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