PrefBlog

Dividend 15 Split Corp. announced on March 3:

that it has filed a short form prospectus in each of the provinces of Canada with respect to an additional offering of Preferred Shares and Class A Shares. The offering will be co-led by RBC Capital Markets and CIBC World Markets. The Company will file an amended and restated prospectus shortly outlining the offering prices set forth below.

The Preferred Shares will be offered at a price of $10.00 per share to yield 5.25% based on current distribution policy. The closing price of the preferred shares on March 2, 2010 on the TMX was $10.40.

The Class A shares will be offered at a price of $11.00 per share to yield 10.91% based on current distribution
policy. The closing price of the preferred shares on March 2, 2010 on the TMX was $11.99.

It announced on March 10 that it:

filed a final prospectus for its secondary offering of 2,400,000 Preferred Shares and 2,400,000 Class A Shares of the Company for aggregate gross proceeds of $50,400,000, bringing the Company’s net assets to approximately $273 million.

Finally, it announced on March 16 that it:

completed its secondary offering of 2,400,000 Preferred Shares and 2,400,000 Class A Shares of the Company for aggregate gross proceeds of $50,400,000, bringing the Company’s net assets to approximately $273 million.

DFN.PR.A was last mentioned on PrefBlog when it was reviewed by Larry MacDonald.

DFN.PR.A is tracked by HIMIPref™ but is relegated to the Scraps index on credit concerns.

This entry was posted on Wednesday, March 24th, 2010 at 11:48 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.