Laurentian Bank of Canada has announced (on 2021-5-12):
that it will redeem, on June 15, 2021, all of its Non-Cumulative Class A Preferred Shares, Series 15 (Non-Viability Contingent Capital (NVCC)) (the “Preferred Shares Series 15”) then outstanding. Such Preferred Shares Series 15 will be redeemed at a redemption price of $25.00 per share, together with any declared and unpaid dividends.
Separately from the redemption price, the final quarterly dividend of $0.365625 per Preferred Shares Series 15 will be paid, subject to its declaration by the board of directors of Laurentian Bank, in the usual manner on June 15, 2021 to shareholders of record on June 7, 2021 or such other record date determined by the board. After the Preferred Shares Series 15 are redeemed, holders of Preferred Shares Series 15 will cease to be entitled to distributions of dividends and will not be entitled to exercise any rights as holders of Preferred Shares Series 15 other than to receive the redemption price.
Beneficial holders who are not the registered holders of Preferred Shares Series 15 should contact the financial institution, broker or other intermediary through which they hold such shares to confirm how they will receive the redemption proceeds. Formal notices and instructions for the redemption will be forwarded to all registered shareholders.
LB.PR.J was a FixedReset, 5.85%+513, NVCC, that commenced trading 2016-3-17 after being announced 2016-3-8. It was tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
This entry was posted on Sunday, August 8th, 2021 at 10:37 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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LB.PR.J Redeemed
Laurentian Bank of Canada has announced (on 2021-5-12):
LB.PR.J was a FixedReset, 5.85%+513, NVCC, that commenced trading 2016-3-17 after being announced 2016-3-8. It was tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
This entry was posted on Sunday, August 8th, 2021 at 10:37 am 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.