Canadian Banc Corp. Announces Successful Overnight Offering of Preferred Shares
2023年11月17日 - 12:02AM
Canadian Banc Corp. (the “Company’) is pleased to announce it has
completed the overnight marketing of Preferred Shares (TSX:
BK.PR.A) of the Company. Total gross proceeds of the offering are
expected to be approximately $85.0 million.
The offering is being led by National Bank
Financial Inc.
The sales period of the overnight offering has
now ended.
The offering is expected to close on or about
November 23, 2023, and is subject to certain closing conditions
including approval by the TSX.
The Preferred Shares are being offered at a
price of $9.80 per Preferred Share to yield 8.16%.
The closing price on the TSX of the Preferred
Shares on November 15, 2023 was $9.96.
The net proceeds of the offering will be used by
the Company to invest in a portfolio consisting primarily of six
publicly traded Canadian Banks as follows:
|
Bank of Montreal |
Canadian Imperial Bank of Commerce |
Royal Bank of Canada |
|
The Bank of Nova Scotia |
National Bank of Canada |
The Toronto-Dominion Bank |
|
|
|
|
The Company’s Preferred Share investment
objectives are to:
- provide holders with cumulative
preferential floating rate monthly cash dividends at a rate per
annum equal to the prevailing Canadian prime rate plus 1.50%
(minimum annual rate of 5.0% and maximum annual rate of 8.0%) based
on original $10 issue price; and
- on or about the termination date,
currently December 1, 2028 (subject to further 5 year extensions
and it has been extended in the past) to pay holders the original
$10 issue price of those shares.
A prospectus supplement to the Company’s short
form base shelf prospectus dated May 17, 2023, containing important
detailed information about the Preferred Shares and the Class A
Shares being offered will be filed with securities commissions or
similar authorities in all provinces of Canada. Copies of the
prospectus supplement and the short form base shelf prospectus may
be obtained from your registered financial advisor using the
contact information for such advisor, or from representatives of
the agents listed above. There will not be any sale or any
acceptance of an offer to buy the securities being offered until
the prospectus supplement has been filed with the Securities
Commissions or similar authorities in each of the provinces of
Canada.
Investor Relations: 1-877-478-2372 Local:
416-304-4443 www.canadianbanc.com info@quadravest.com
Canadian Banc (TSX:BK)
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Canadian Banc (TSX:BK)
過去 株価チャート
から 6 2023 まで 6 2024