Scotia has announced:
that it has completed the domestic offering of 11 million, non-cumulative 5-year rate reset preferred shares Series 28 (the “Preferred Shares Series 28”) at a price of $25.00 per share. The gross proceeds of the offering were $275 million.
The issue is a fixed-reset 6.25%+446, as previously announced. The original size was 10-million shares plus a 2-million greenshoe; bumped to 12+2; and they sold 13. A fine marketting job!
The issue traded 496,219 shares in a range of 24.80-00, closing at 24.90-92. It was one of three issues settling today, the others being TD.PR.G and NA.PR.P.
The issue has been added to the HIMIPref™ Fixed-Reset Sub-Index.