An anonymous director reports
BROMPTON SPLIT BANC CORP. COMPLETES PREFERRED SHARE OFFERING
Brompton Split Banc Corp. has completed a treasury offering of preferred shares for gross proceeds of approximately $38.2-million. The preferred shares will trade on the Toronto Stock Exchange under the existing symbol SBC.PR.A.
The preferred shares were offered at a price of $10.40 per preferred share to yield 6.0 per cent. The syndicate of agents for the offering was led by RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and Scotiabank, and included Hampton Securities Ltd., Canaccord Genuity Corp., BMO Capital Markets, Raymond James Ltd., TD Securities Inc., iA Private Wealth Inc., CI Investment Services Inc., Manulife Securities Inc., Research Capital Corp., Ventum Financial Corp. and Wellington-Altus Private Wealth Inc.
The fund invests on an approximately equally weighted basis in a portfolio of common shares of the six largest Canadian banks: Royal Bank of Canada, Bank of Nova Scotia, National Bank of Canada, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Bank of Montreal. In addition, the fund may hold up to 10 per cent of the total assets of the portfolio in investments in global financial companies for the purpose of enhanced diversification and return potential.
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