{"id":51077,"date":"2019-12-10T21:47:00","date_gmt":"2019-12-11T02:47:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=51077"},"modified":"2025-11-26T21:49:07","modified_gmt":"2025-11-27T02:49:07","slug":"xtd-pr-a-to-get-bigger","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=51077","title":{"rendered":"XTD.PR.A To Get Bigger"},"content":{"rendered":"

Quadravest has announced<\/a>:<\/p>\n

TDb Split Corp. (the \u201cCompany\u201d) is pleased to announce it has filed a preliminary short form prospectus in each of the provinces of Canada with respect to an offering of Priority Equity Shares and Class A Shares of the Company.<\/p>\n

The offering will be co-led by National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and will also include a syndicate of dealers.<\/p>\n

The Priority Equity Shares will be offered at a price of $10.00 per Share to yield 5.25% and the Class A Shares will be offered at a price of $6.15 per Class A Share to yield 9.75%.<\/p>\n

The closing price on the TSX of each of the Priority Equity Shares and the Class A Shares on December 6, 2019 was $10.23 and $6.34, respectively.<\/p>\n

Since inception of the Company, the aggregate dividends declared on the Priority Equity Shares have been $6.47 per share and the aggregate dividends declared on the Class A Shares have been $6.25 per share, for a combined total of $12.72 per unit. All distributions to date have been made in tax advantage eligible Canadian dividends or capital gains dividends.<\/p>\n

The net proceeds of the offering will be used by the Company to invest in common shares of Toronto-Dominion Bank, a leading Canadian Financial institution.<\/p>\n

The Company\u2019s investment objectives are:
\nPriority Equity Shares:
\ni. to provide holders of the Priority Equity Shares with fixed, cumulative preferential monthly cash dividends currently in the amount of $0.04375 ($0.525 annually); and
\nii. on or about the termination date, currently December 1, 2024 (subject to further 5 year extensions thereafter), to pay the holders of the Priority Equity Shares $10.00 per Priority Equity Share.<\/p>\n

Class A Shares:
\ni. to provide holders of the Class A Shares with regular monthly cash dividends currently in the amount of $0.05 monthly ($0.60 annually); and
\nii. to permit holders to participate in all growth in the net asset value of the Company above $10 per Unit, by paying holders on or about the termination date of December 1, 2024 (subject to further 5 year extensions thereafter) such amounts as remain in the Company after paying $10 per Priority Equity Share.<\/p>\n

The sales period of this overnight offering will end at 9:00 a.m. EST on December 10, 2019. The offering is expected to close on or about December 23, 2019 and is subject to certain closing conditions including approval by the TSX.<\/p>\n<\/blockquote>\n

XTD.PR.A was last mentioned on PrefBlog when it got bigger in 2014<\/a>. The issue is not tracked by HIMIPref™ since it is too small for efficient trading – total assets (including Capital Units) were only 54-million as of November 30<\/a>. <\/p>\n

On November 29, the NAVPU was 15.84<\/a> and Whole Units are being offered at 16.15 – a premium of just under 2%, but still a good piece of business.<\/p>\n

Update, 2019-12-16<\/b>: They raised almost $36-million<\/a>:<\/p>\n

TDb Split Corp. (the \u201cCompany\u201d) is pleased to announce it has completed the overnight marketing of up to 2,600,012 Priority Equity Shares and up to 1,568,100 Class A Shares of the Company. Total gross proceeds of the offering are expected to be approximately $35,643,935.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Quadravest has announced: TDb Split Corp. (the \u201cCompany\u201d) is pleased to announce it has filed a preliminary short form prospectus in each of the provinces of Canada with respect to an offering of Priority Equity …<\/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-51077","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51077","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=51077"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51077\/revisions"}],"predecessor-version":[{"id":51078,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51077\/revisions\/51078"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}