Brompton Funds has announced:
Brompton Lifeco Split Corp. (the “Company”) is pleased to announce it has filed a preliminary short form prospectus with respect to a treasury offering of class A shares and preferred shares.
The Company invests in a portfolio, on an approximately equal weight basis, of common shares of Canada’s four largest publicly-listed life insurance companies: Great-West Lifeco Inc., Industrial Alliance Insurance and Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.
The investment objectives of the class A shares are to provide holders with regular monthly cash distributions targeted to be $0.075 per class A share and to provide the opportunity for growth in net asset value per class A share.
The investment objectives of the preferred shares are to provide holders with fixed cumulative preferential quarterly cash distributions in the amount of $0.575 per annum and to return the original issue price ($10.00) to holders of preferred shares on the maturity date of the Company, April 29, 2019.
The syndicate of agents for the offering is being led by RBC Capital Markets, CIBC, and Scotiabank, and includes BMO Capital Markets, National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc., Mackie Research Capital Corporation, and Manulife Securities Incorporated.
LCS.PR.A was last mentioned on PrefBlog in connection with a similar exercise last April.
LCS.PR.A is not tracked by HIMIPref™ as it is a small issue. There are slightly less than 2.7-million units outstanding but it’s growing rapidly and things could change!
This entry was posted on Monday, August 18th, 2014 at 8:01 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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LCS.PR.A To Get Bigger
Brompton Funds has announced:
LCS.PR.A was last mentioned on PrefBlog in connection with a similar exercise last April.
LCS.PR.A is not tracked by HIMIPref™ as it is a small issue. There are slightly less than 2.7-million units outstanding but it’s growing rapidly and things could change!
This entry was posted on Monday, August 18th, 2014 at 8:01 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.