PrefBlog

Laurentian Bank has announced:

Laurentian Bank of Canada announces that it will redeem, on March 15, 2013, all of its Non-Cumulative Class A Preferred Shares Series 9 then outstanding. Such preferred shares will be redeemed at a redemption price of $25.00 per share, together with any declared and unpaid dividends.

Beneficial holders who are not the registered holders of these shares should contact the financial institution, broker or other intermediary through which they hold such shares to confirm how they will receive the redemption proceeds. Formal notices and instructions for the redemption will be forwarded to all registered shareholders.

LB.PR.D is a DeemedRetractible with a 6.00% coupon. It was last mentioned on PrefBlog when the LB preferreds were downgraded to P-3(high) by S&P in December, 2012. LB.PR.D has been tracked by HIMIPref™, but has been relegated to the Scraps index on credit concerns.

This entry was posted on Monday, February 4th, 2013 at 1:55 pm 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.