Algonquin Power Income Fund

Algonquin Power Income Fund

October 12, 2006 15:37 ET

Algonquin Power Income Fund-New Issue

TORONTO, ONTARIO--(CCNMatthews - Oct. 12, 2006) -

Not for distribution to U.S. news wire services or dissemination in the United States.

Algonquin Power Income Fund ("Algonquin")(TSX:APF.UN) has announced today that it has entered into an agreement to sell to a syndicate of underwriters led by BMO Capital Markets and CIBC World Markets Inc., on a bought deal basis, 6,440,000 trust units (the "Trust Units") at $10.10 per Trust Unit for gross proceeds of $65,044,000 and $50,000,000 principal amount of 6.10% convertible unsecured subordinated debentures due November 30, 2016 (the "Debentures"). The offering is expected to close on or about November 1, 2006.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Algonquin Power Income Fund
    Mr. Ian Robertson
    (905) 465-4510