PrefBlog

Scotia Managed Companies has announced:

allBanc Split Corp. (the “Company”) is pleased to announce that it filed a preliminary short form prospectus in respect of a proposed public offering of Class C preferred shares, series 1 and additional Class A capital shares (the “Capital Shares”) collectively, the “Shares”.

The Shares are being offered to the public on a best efforts basis by a syndicate of agents led by Scotiabank and including CIBC, RBC Capital Markets, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Raymond James Ltd., GMP Securities L.P. Mackie Research Capital Corporation, Burgeonvest Bick Securities Limited, Desjardins Securities Inc. and Manulife Securities Incorporated.

allBanc Split Corp. is a mutual fund corporation created to hold a portfolio of common shares of the Bank of Montreal, Canadian Imperial Bank of Commerce, The Bank of Nova Scotia, Royal Bank of Canada and The Toronto Dominion Bank. Capital Shares and Class B preferred shares of allBanc Split Corp. are listed for trading on the Toronto Stock Exchange under the symbols ABK.A and ABK.PR.B respectively.

The intent to come out with a refunding issue was reported on PrefBlog. ABK.PR.B is a fairly small issue, with less than half a million shares outstanding with a par value of $26.75 each and is not tracked by HIMIPref™. It is likely that the new issue will also be too small to track.

This entry was posted on Tuesday, January 29th, 2013 at 6:14 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.