Life & Banc Split Corp. Completes Preferred Share Offering
Not for distribution to U.S. newswire services or for dissemination in the United States.
TORONTO, Oct. 31, 2023 (GLOBE NEWSWIRE) -- (TSX: LBS, LBS.PR.A) Life & Banc Split Banc Corp. (the “Company”) is pleased to announce that it has completed the previously announced treasury offering of preferred shares (“Preferred Shares”) for aggregate gross proceeds of approximately $94 million. The Preferred Shares will trade on the Toronto Stock Exchange (“TSX”) under the existing symbol LBS.PR.A.
The Preferred Shares were offered at a price of $9.60 per Preferred Share for a yield to maturity of 8.3%.(1) 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 Limited, Canaccord Genuity Corp., BMO Capital Markets, Raymond James Ltd., TD Securities Inc., iA Private Wealth Inc., Echelon Wealth Partners Inc., Manulife Securities Incorporated, Research Capital Corporation and Richardson Wealth Limited.
The Company invests in a portfolio consisting of common shares of the six largest Canadian banks and the four major publicly traded Canadian life insurance companies:
Manulife Financial Corporation | Bank of Montreal |
Sun Life Financial Inc. | The Toronto-Dominion Bank |
iA Financial Corporation Inc. | National Bank of Canada |
Royal Bank of Canada | The Bank of Nova Scotia |
Great-West Lifeco Inc. | Canadian Imperial Bank of Commerce |
About Brompton Funds
Founded in 2000, Brompton is an experienced investment fund manager with income focused investment solutions including exchange-traded funds (ETFs) and other TSX traded investment funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup.com.
(1) See Performance table below. Yield to maturity for the Preferred Share is based on maturity date of October 30, 2028.
Lesen Sie auch
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the Company on the TSX or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the Company and may receive less than the current net asset value when selling them.