BSC.PR.A to Extend Term?

BNS Split Corp. II has announced:

that its Board of Directors has retained Scotia Capital to advise the Company on a possible extension and reorganization of the Company. There is no guarantee that after such review an extension will be proposed or if proposed, will be approved by shareholders.

BNS Split Corp. II is a mutual fund corporation created to hold a portfolio of common shares of The Bank of Nova Scotia.

BSC.PR.A is scheduled to wind up in September:

The Capital Shares and the Preferred Shares may be surrendered for retraction at any time and will be redeemed by the Company on September 22, 2010 (the ‘‘Redemption Date’’).

BSC has an NAVPU of $48.31 providing Asset Coverage of 2.3+:1.

BSC.PR.A was last mentioned on PrefBlog when it was upgraded to Pfd-2(low) by DBRS. BSC.PR.A is not tracked by HIMIPref™ …. but if they extend term and maybe up the size just a little, its successor might be.

One Response to “BSC.PR.A to Extend Term?”

  1. […] was last mentioned on PrefBlog when the company announced it was considering extending term. BSC.PR.A is not tracked by HIMIPref™ …. but if they extend term and maybe up the size just a […]

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