{"id":23475,"date":"2013-10-26T00:08:29","date_gmt":"2013-10-26T04:08:29","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23475"},"modified":"2013-10-26T00:08:29","modified_gmt":"2013-10-26T04:08:29","slug":"big-pr-b-big-pr-c-to-be-redeemed-refunded-with-big-pr-d","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23475","title":{"rendered":"BIG.PR.B, BIG.PR.C To Be Redeemed; Refunded with BIG.PR.D"},"content":{"rendered":"

TD Securities has announced<\/a>:<\/p>\n

that it has called all existing 585,093 of its Class B Preferred Shares and all existing 651,155 of its Class C Preferred Shares and all existing 1,236,248 of its Class A Capital Shares (\u201cOld Capital Shares\u201d) for final redemption on December 15, 2013 (the \u201cRedemption Date\u201d). The redemption price for each Class B and Class C Preferred Share is expected to be $12.00 per share. The redemption price per Old Capital Share will be equal to the amount by which the Unit Value exceeds $12.00. Holders of Old Capital Shares may at their option tender a cash amount of $12.00 per Old Capital Share at least 20 business days prior to the Redemption Date and receive for each Old Capital Share a pro rata share of the common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife Financial Corporation and Sun Life Financial Inc. (the \u201cPortfolio Shares\u201d) and the holder\u2019s pro rata share of the other net assets of the Company.<\/p>\n

The Company also announced that it has filed a preliminary prospectus with the securities commissions and similar regulatory authorities in all provinces of Canada in connection with a new offering of Class D preferred shares, series 1 (\u201cNew Preferred Shares\u201d) and Class D capital shares, series 1 (\u201cNew Capital Shares\u201d). The New Preferred Shares will provide holders thereof with an attractive, fixed dividend yield. The New Capital Shares will provide holders thereof with a leveraged opportunity to participate in the capital appreciation and dividend growth on the Portfolio Shares.<\/p>\n

In conjunction with the new offering, and recognizing that some holders of Old Capital Shares may wish to continue their investment in Big 8 Split, the Company will issue to holders who so elect New Capital Shares in satisfaction of the redemption price of their Old Capital Shares. Electing shareholders may be eligible to obtain a full or partial tax-deferred rollover on the redemption of their Old Capital Shares.<\/p>\n

Details of the new offering and tax-deferred rollover are contained in the preliminary short form prospectus which should be obtained from the Company\u2019s website (www.tdsponsoredcompanies.com) or from an investment advisor.<\/p>\n

The Class A Capital Shares, Class B Preferred Shares, and Class C Preferred Shares of Big 8 Split are listed on the Toronto Stock Exchange under the symbols BIG.A, BIG.pr.B and BIG.pr.C, respectively.<\/p><\/blockquote>\n

The Class D Preferred Shares have been provisionally rated Pfd-2(low) by DBRS<\/a>.<\/p>\n

BIG.PR.B and BIG.PR.C were last mentioned on PrefBlog when there was a partial call for redemption in 2011<\/a>. Neither BIG.PR.B nor BIG.PR.C are tracked by HIMIPref\u2122 due to the small size of the issues – let’s hope that they have better luck with BIG.PR.D!<\/p>\n","protected":false},"excerpt":{"rendered":"

TD Securities has announced: that it has called all existing 585,093 of its Class B Preferred Shares and all existing 651,155 of its Class C Preferred Shares and all existing 1,236,248 of its Class A …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,17],"tags":[],"class_list":["post-23475","post","type-post","status-publish","format-standard","hentry","category-issue-comments","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23475"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23475\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}