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Canadian Banc Corp T.BK

Alternate Symbol(s):  CNDCF | T.BK.PR.A

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.


TSX:BK - Post by User

Canadian Banc Corp > Preferred only?
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Comment by navgodon Nov 16, 2023 4:53am
95 Views
Post# 35738434

RE:RE:RE:RE:Preferred only?

RE:RE:RE:RE:Preferred only?Issue appears to be approximately 5 million shares and is already closed.
AnEducator wrote: The maturity date was extended to 2028, but with that came a Special Retraction Right and there have been, as expected, enough retractions to necessitate an issuance of preferreds. My guess is that a very large number of shares have to be issued, maybe even seven or eight million. I would be shocked if this was a small offering.

Kylemcc10 wrote: These shares have Dec 2028 as the maturity date. If they had too many preferred's why are they issuing more?




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