BNS.PR.P (Perpetual Reset) Closes: Greenshoe Exercised

BNS has announced:

that it has completed the domestic offering of 12 million, non-cumulative 5-year rate reset preferred shares Series 18 (the “Preferred Shares Series 18”) at a price of $25.00 per share on March 25, 2008.
The syndicate of investment dealers led by Scotia Capital Inc. have also fully exercised the over-allotment option to purchase an additional 1.8 million of Preferred Shares Series 18 at a price of $25.00 per share. It is expected that the closing for the additional 1.8 million shares will occur on March 27, 2008. After the closing of the additional shares, when combined with the existing 12 million shares, there will be a total of 13.8 million of the Preferred Shares Series 18 trading on the Toronto Stock Exchange under the symbol BNS.PR.P. The gross proceeds of the offering were $345 million.

Well! So much for my disdain for this issue! It’s an ill wind, however … Desjardins will be happy at the reception!

This entry was posted on Wednesday, March 26th, 2008 at 5:50 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.

2 Responses to “BNS.PR.P (Perpetual Reset) Closes: Greenshoe Exercised”

  1. PrefBlog » Blog Archive » BNS.PR.Q Closes Comfortably says:
    June 10, 2008 at 5:50 pm

    […] issue traded 629,480 shares today in a range of 24.95-07, closing at 24.98-00, 4×156. The related BNS.PR.P (which resets at +205) closed at 25.41-50, 15×66. It would seem the market it placing a lot of […]

  2. March 5, 2013 « PrefBlog says:
    March 6, 2013 at 1:36 am

    […] 12Q1 Quarterly Press Release did not contain a statement of intent to redeem BNS.PR.P, a FixedReset, 5.00%+205 that will reset 2013-4-30 at a yield currently forecast to be […]

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