{"id":24866,"date":"2014-04-04T00:29:34","date_gmt":"2014-04-04T05:29:34","guid":{"rendered":"http:\/\/prefblog.com\/?p=24866"},"modified":"2014-04-04T00:29:34","modified_gmt":"2014-04-04T05:29:34","slug":"lb-pr-h-firm-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24866","title":{"rendered":"LB.PR.H Firm On Good Volume"},"content":{"rendered":"

Laurentian Bank of Canada has announced<\/a>:<\/p>\n

that it has closed its previously announced public offering, on a bought deal basis, of 5,000,000 Basel III-compliant Non-Cumulative Class A Preferred Shares, Series 13 (the “Preferred Shares Series 13”), at a price of $25.00 per share for gross proceeds of $125 million (the “Offering”).<\/p>\n

The Offering was underwritten by a syndicate led by RBC Dominion Securities Inc., BMO Capital Markets and Laurentian Bank Securities Inc.<\/p>\n

The Preferred Shares Series 13 will commence trading on the Toronto Stock Exchange today under the ticker symbol “LB.PR.H.”.<\/p>\n

The Preferred Shares Series 13 were issued pursuant to a prospectus supplement dated March 27, 2014 to Laurentian Bank’s short form base shelf prospectus dated October 10, 2012.<\/p><\/blockquote>\n

LB.PR.H is a NVCC-compliant FixedReset, 4.30%+255, announced March 25<\/a>; since it is NVCC-compliant, I have not imposed a Deemed Maturity<\/a> onto the call schedule. This issue will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.<\/p>\n

DBRS finalized its rating at Pfd-3(low)<\/a>, one notch below other issues due to the uncertainty caused by NVCC.<\/p>\n

The issue traded 697,638 shares today in a range of 24.91-99 before closing at 24.96-99, 125×12. Vital statistics are:<\/p>\n

\n\n\n
LB.PR.H<\/td>\nFixedReset<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2044-04-03
\nMaturity Price : 23.14
\nEvaluated at bid price : 24.96
\nBid-YTW : 4.18 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Laurentian Bank of Canada has announced: that it has closed its previously announced public offering, on a bought deal basis, of 5,000,000 Basel III-compliant Non-Cumulative Class A Preferred Shares, Series 13 (the “Preferred Shares Series …<\/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-24866","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24866","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=24866"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24866\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}