{"id":42405,"date":"2021-08-08T14:41:00","date_gmt":"2021-08-08T19:41:00","guid":{"rendered":"http:\/\/prefblog.com\/?p=42405"},"modified":"2021-08-08T14:41:00","modified_gmt":"2021-08-08T19:41:00","slug":"cwb-pr-c-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42405","title":{"rendered":"CWB.PR.C Redeemed"},"content":{"rendered":"<p>Canadian Western Bank <a href=\"https:\/\/www.cwb.com\/en\/news\/2021\/cwb-confirms-upcoming-redemption-of-nvcc-series-7-preferred-shares\">has announced<\/a> (on 2021-6-1):<\/p>\n<blockquote><p>that it will redeem all of its outstanding 5,600,000 Non-Cumulative 5-Year Rate Reset First Preferred Shares Series 7 (Non-Viability Contingent Capital (NVCC)) (the \u201cSeries 7 Preferred Shares\u201d) for cash on July 31, 2021. The Series 7 Preferred Shares (TSX: CWB.PR.C) are redeemable at CWB\u2019s option on July 31, 2021 at a redemption price per Series 7 Preferred Share equal to $25.00 for an aggregate total of $140 million. Formal notice will be delivered to holders of Series 7 Preferred Shares in accordance with the terms outlined in the share provisions for the Series 7 Preferred Shares.<\/p>\n<p>Separately from the redemption price, the final quarterly dividend of $0.390625 per Series 7 Preferred Share will be paid in the usual manner on July 31, 2021 to shareholders of record on July 23, 2021. After the Series 7 Preferred Shares are redeemed, holders of Series 7 Preferred Shares will cease to be entitled to distributions of dividends and will not be entitled to exercise any rights as holders other than to receive the redemption price.<\/p><\/blockquote>\n<p>CWB.PR.C was a FixedReset, 6.25%+547, NVCC, that <a href=\"http:\/\/prefblog.com\/?p=32845\">commenced trading 2016-3-31<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=32687\">announced 2016-3-10<\/a>. It was tracked by HIMIPref&trade; but relegated to the Scraps index on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian Western Bank has announced (on 2021-6-1): that it will redeem all of its outstanding 5,600,000 Non-Cumulative 5-Year Rate Reset First Preferred Shares Series 7 (Non-Viability Contingent Capital (NVCC)) (the \u201cSeries 7 Preferred Shares\u201d) for &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-42405","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42405","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=42405"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42405\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}