Two New Split Corps!

There are two new split-share corporations in the distribution pipelines:

S Split Corp has been announced by Mulvihill. These will be backed by shares of BNS – the Bank of Nova Scotia. The news release says that DBRS has assigned a preliminary rating of Pfd-2(low) and that the final prospectus has been filed with SEDAR – but it’s not available there right now. They may have it on-line Monday. Mulvihill has an impressive distribution pipeline and all the usual suspects are in the underwriting syndicate for this one. Depending on the terms of the issue, I may be adding this one to the HIMIPref™ universe.

ML Split Corp has been announced by Quadravest. These will be backed by shares of Merrill Lynch. A Preliminary Prospectus is available – I will not be adding these to the HIMIPref™ universe as the company is not having the “Priority Equity Shares”, as they call the preferred-sort-of-equivalent components of the split, rated by any agency.

One Response to “Two New Split Corps!”

  1. […] I had a look at the prospectus, as promised, and have added this issue to the HIMIPref™ Universe. […]

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