NA.PR.O Eases into Market

NA.PR.O, a Fixed-Reset 6.60%+463 issue announced January 5, has settled successfully. It closed today at 24.86-95, 20×100, after trading 177,885 shares in a range of 24.70-94.

National Bank has announced:

Prior to the closing of the offering, the underwriters agreed to purchase 1,800,000 additional Series 24 Preferred Shares through the underwriters’ option, bringing the total issue to 6,800,000 shares and gross proceeds of the offering to $170 million.

The maximum greenshoe was for 3-million shares; not fully taken up but a very creditable effort.

NA.PR.O is tracked by HIMIPref™. It has been added to the Fixed-Reset Index.

3 Responses to “NA.PR.O Eases into Market”

  1. adrian2 says:

    Hi James,

    For a moment, you made my heart stop: it’s 6.6%, not 4.6%.


  2. jiHymas says:

    Quite right, as usual!

    I have fixed the post.

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