Great-West Lifeco has announced:
the closing of its previously announced offering of 8,000,000 5.70% Non-Cumulative First Preferred Shares, Series 24 (the “Series 24 Shares”) for gross proceeds of $200 million, which includes the full exercise of the underwriters’ option. The offering was completed through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank. The Series 24 Shares will be listed for trading on the Toronto Stock Exchange under the symbol “GWO.PF.A”.
This issue was announced 2026-06-16.
The issue traded in a range of 24.85-95 today on volume of 509,150 shares (consolidated: 742,360), before closing at 24.85-88. Interactive Brokers did not have the new issue set up for trading on their platform – they very often miss the opening day of new issues and sometimes a few more besides. Nice to see the greenshoe was fully exercised.
The issue has been added to the PerpetualDiscount subindex. Vital statistics are:
| GWO.PF.A | Perpetual-Discount | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-06-22 Maturity Price : 24.46 Evaluated at bid price : 24.85 Bid-YTW : 5.76 % |
[…] The day was enlivened by the closing of the GWO.PF.A Straight 5.7% issue. […]