Skip to main content

Investors continue to be feed a steady diet of convertible debentures, with Macquarie Power & Infrastructure Income Fund raising $50-million on Tuesday in the third such financing of the week.

The Macquarie fund rolled out an offering that features 6.5 per cent interest. It was led by TD Securities and BMO Nesbitt Burns. The debentures flip into trust units at $7 each. Energy trusts have been active issuers of converts of late. This market shut down last year during the credit crunch, then opened in recent months in part on retail investor interest in income-generating products.

Report an error
About the Author
Business Columnist

Andrew Willis is a business columnist for the Report on Business at The Globe and Mail, based in Toronto.He has been in business communications and journalism for three decades. More

Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.