{"id":24420,"date":"2014-02-11T01:22:47","date_gmt":"2014-02-11T06:22:47","guid":{"rendered":"http:\/\/prefblog.com\/?p=24420"},"modified":"2014-02-11T01:22:47","modified_gmt":"2014-02-11T06:22:47","slug":"cwb-pr-b-firm-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24420","title":{"rendered":"CWB.PR.B Firm on Good Volume"},"content":{"rendered":"<p>Canadian Western Bank <a href=\"http:\/\/www.cwbankgroup.com\/press_releases\/docs\/20140210_PressRelease_PreferredShareOfferring.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that it has closed its domestic public offering of Basel III-compliant non-cumulative 5-year rate reset First Preferred Shares Series 5 (the \u201cSeries 5 Preferred Shares\u201d). CWB issued 5 million Series 5 Preferred Shares at a price of $25 per share to raise gross proceeds of $125 million. The offering was underwritten by a syndicate led by National Bank Financial Inc.<\/p>\n<p>The Series 5 Preferred Shares will commence trading on the Toronto Stock Exchange today under the ticker symbol CWB.PR.B. The Series 5 Preferred Shares were issued under a prospectus supplement dated February 3, 2014 to CWB\u2019s short form base shelf prospectus dated January 30, 2014.<\/p>\n<p>In conjunction with the closing of this offering, CWB has confirmed regulatory approval to redeem the currently outstanding non-cumulative 5-year rate reset First Preferred Shares Series 3 (TSX: CWB.PR.A), and intends to proceed with the full redemption of these shares on April 30, 2014 in accordance with the terms of such shares.<\/p><\/blockquote>\n<p>CWB.PR.B is a FixedReset, 4.40%+276, <a href=\"http:\/\/prefblog.com\/?p=24343\">announced January 31<\/a>. It will be tracked by HIMIPref&trade; but relegated to the Scraps index on credit concerns.<\/p>\n<p>The issue traded 241,874 shares today in a range of 24.90-98 before closing at 24.97-98, 20&#215;42. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>CWB.PR.B<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2044-02-10<br \/>\nMaturity Price  : 23.14<br \/>\nEvaluated at bid price : 24.97<br \/>\nBid-YTW : 4.28 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canadian Western Bank has announced: that it has closed its domestic public offering of Basel III-compliant non-cumulative 5-year rate reset First Preferred Shares Series 5 (the \u201cSeries 5 Preferred Shares\u201d). CWB issued 5 million Series &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-24420","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24420","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=24420"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24420\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}