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.

This entry was posted on Wednesday, January 14th, 2009 at 8:49 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.

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

  1. adrian2 says:
    January 14, 2009 at 9:57 pm

    Hi James,

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

    Adrian

  2. jiHymas says:
    January 14, 2009 at 10:06 pm

    Quite right, as usual!

    I have fixed the post.

  3. PrefBlog » Blog Archive » January 20, 2009 says:
    January 20, 2009 at 9:19 pm

    […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-01-20 Maturity Price : 25.00 Evaluated at bid price : 25.05 Bid-YTW : 6.37 % […]

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