5Banc Split Inc. has announced (via CCN Matthews) that its new issue of preferreds, FBS.PR.B, has closed.
14-million shares priced at $10.00 were sold, compared to the initial issue 3.25-million of the old shares, FBS.PR.A, the last of which have been redeemed at $25.00. That’s a nice increase of 72% in initial issue size, so I will speculate that TD Bank, the sponsor, is happy!
The new securityCode for FBS.PR.B is A29001, which replaces the preIssue code of P50008. A reorgDataRecord has been added to the HIMIPref™ database.
A reorg entry has also been put through to reflect the redemption of FBS.PR.A (securityCode A29000) and the instrumentDataRecord changed to reflect the delisting.
More, later. Probably much later, as I don’t think I will be able to update the prices tonight and will have to leave it ’till later in the weekend.
[…] Now with a pre-tax bid-YTW of 3.75% based on a bid of $10.99 and a hardMaturity 2013-11-29 at $10.00. It is interesting to compare this with the FBS.PR.B new issue, which finished its opening data at 10.38-bid for a pre-tax YTW of 1.21% based on a call 2008-1-14 at $10.00, or 3.93% if it lasts until its hardMaturity 2011-12-15 at $10.00. […]
[…] Recent New issue. Now with a bid-YTW of 1.41% based on a bid of $10.36 and a call 2008-1-14 at $10.00 […]
[…] Recent New Issue. Now with a pre-tax bid-YTW of 1.23% based on a bid of $10.38 and a call at $10.00 2008-1-14. […]
[…] Recent”>http://www.prefblog.com/?p=404″>Recent new issue, now with a pre-tax bid-YTW of 1.63% based on a bid of 10.34 and a call 2008-1-14 at $10.00. I’m avoiding it! […]
[…] 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. […]