TSX:BPO.PR.A - Post by User
Comment by
Carenaon Jun 11, 2024 9:50pm
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Post# 36083948
RE:I own a lot of one bank...
RE:I own a lot of one bank...Hi Sonoffergus,
Big congrats on your big win! Almost 100% premium....a great signal for the downtrodden Cdn stock market. It is also great to see some bank M&A in Canada. I have followed CWB for years and always wondered.
As for the prefs, I read the press release just now and since the prefs are not mentioned, it would seem they are going to be left in place. I expect they will trade in line with NB prefs (relative to their specific terms of course). I would assume their spreads are higher than NB and I guess redemption is a possibility at some point. I would add that NB is going to the market to raise equity, the redemption of any prefs will not be a priority in the short term, IMO.
Have a great night
Carena