Financial 15 Split Corp. Completes Overnight Offering of $79,109,100
A high quality portfolio consisting of 15 North American Financial Services Companies
TORONTO, ONTARIO--(Marketwired - Sep 28, 2017) - Financial 15 Split Corp. (the "Company") is pleased to announce it has
completed the overnight offering of 3,897,000 Preferred Shares and 3,897,000 Class A Shares of the Company. Total proceeds of the
offering were $79.1 million, bringing the Company's net assets to approximately $480.8 million. The shares will trade on the
Toronto Stock Exchange under the existing symbols of FTN.PR.A (Preferred Shares) and FTN (Class A Shares).
The Preferred Shares were offered at a price of $9.90 per Preferred Share to yield 5.30% and the Class A Shares
were offered at a price of $10.40 per Class A Share to yield 14.50%.
The offering was co-led by National Bank Financial Inc., CIBC, Scotia Capital Inc., RBC Capital Markets and also
included BMO Capital Markets, GMP Securities L.P., Canaccord Genuity Corp., Raymond James, Desjardins Securities Inc., Echelon
Wealth Partners, Mackie Research Capital Corporation, Manulife Securities Incorporated and Industrial Alliance Securities
Inc.
The net proceeds of the offering will be used by the Company to invest in an actively managed, high quality
portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows:
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Bank of Montreal |
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National Bank of Canada |
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Bank of America Corp. |
The Bank of Nova Scotia |
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Manulife Financial Corporation |
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Citigroup Inc. |
Canadian Imperial Bank of Commerce |
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Sun Life Financial Services of Canada |
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Goldman Sachs Group Inc. |
Royal Bank of Canada |
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Great-West Lifeco Inc. |
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JP Morgan Chase & Co. |
The Toronto-Dominion Bank |
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CI Financial Corp. |
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Wells Fargo & Co. |
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund
investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change
frequently and past performance may not be repeated. Please read the Company's publically filed documents which are available at
www.sedar.com.