5Banc Split Inc. has announced (via CCN Matthews) that:
it has completed the issuance of an additional 100,000 Class B Capital Shares (the “Capital Shares”) and 100,000 Class B Preferred Shares (the “Preferred Shares”) at prices of $10.00 per Capital Share and $10.00 per Preferred Share pursuant to the exercise of the over-allotment option granted to the Company’s agents in its recently completed offering of Capital Shares and Preferred Shares. All together, the Company has raised total gross proceeds of $282 million under the offering.
The FBS.PR.B new issue closed on December 15. This is good news. Always nice to see these things get a little more liquid.
[…] Recent new issue. Now with a pre-tax bid-YTW of 1.82% based on a bid of $10.33 and a call 2008-1-14 at $10.00, so why bother? There would seem to be a lot of money being bet that it will make it to its hardMaturity 2011-12-15 at $10.00, which yields 4.12%. I’ll take the other side of that bet! […]
[…] Recent new issue continues to trade frantically. But why? Why why why? Now with a pre-tax bid-YTW of 1.93% based on a bid of $10.32 and a call 2008-1-14 at $10.00. Many are obviously betting that it will last until the hardMaturity 2011-12-15 … that will be a first, if it happens to a large extent. […]