The Financial Post reports in its Tuesday, Aug. 24, edition that praise is in order for Innergex Renewable Power for bringing an offering of five-year rate-reset preferred shares to investors and for trying to broaden the range of the security that, for a long while now, has been dominated by financial institutions. The Post's Barry Critchley writes that an unnamed observer says, "There is huge demand for non-financial issuers." Innergex tried to meet that demand on Monday. Innergex operates 14 run-of-river facilities and three wind farms in Quebec and British Columbia. It offered investors $85-million of 5-per-cent prefs with the rate to be reset in five years at the then five-year Canada bond yield plus 279 basis points. As things materialized, the yield from the BBB-rated issuer and the Pfd3 -- low-rated security was a little light -- though the deal sold by the middle of the trading day. The unnamed broker says, "There was not enough of a concession." He says there was some "push-back" by the institutions. The broker explains that part of the push-back is because of "the small size of the issue, of less than $100-million. Such a size means there is less institutional participation than normal."