{"id":52713,"date":"2026-10-14T20:54:26","date_gmt":"2026-10-15T00:54:26","guid":{"rendered":"https:\/\/prefblog.com\/?p=52713"},"modified":"2026-10-14T20:54:26","modified_gmt":"2026-10-15T00:54:26","slug":"bk-pr-a-to-get-bigger-5","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52713","title":{"rendered":"BK.PR.A To Get Bigger"},"content":{"rendered":"

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

Canadian Banc Corp. (the \u201cCompany\u201d) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) and Class A Shares (TSX: BK) of the Company. The offering will be led by National Bank Financial Inc.<\/p>\n

The sales period of this overnight offering will end at 8:30 a.m. (Toronto time) on October 15, 2026. The offering is expected to close on or about October 22, 2026 and is subject to certain closing conditions including approval by the TSX.<\/p>\n

The Preferred Shares will be offered at a price of $10.35 per Preferred Share and the Class A Shares will be offered at a price of $15.40 per Class A Share.<\/p>\n

The closing price on the TSX of each of the Preferred Shares and Class A Shares on October 13, 2026 was $10.42 and $15.77, respectively.<\/p>\n

Since inception of the Company, the aggregate dividends paid on the Preferred Shares have been $11.98 per share and the aggregate dividends paid on the Class A Shares have been $26.64 per share, for a combined total of $38.62 per unit. All distributions paid 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 a portfolio consisting primarily of six publicly traded Canadian banks as follows:<\/p>\n

\n\n\n\n
Bank of Montreal<\/td>\n Canadian Imperial Bank of Commerce<\/td>\n Royal Bank of Canada<\/td>\n<\/tr>\n
The Bank of Nova Scotia<\/td>\n National Bank of Canada<\/td>\n The Toronto-Dominion Bank<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The Company\u2019s investment objectives are:
\nPreferred Shares:
\ni. to provide holders with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the prevailing Canadian prime rate plus 1.50% (minimum annual rate of 5.0% and maximum annual rate of 8.0%) based on original $10 issue price; and
\nii. on or about the termination date, currently December 1, 2028 (subject to further 5 year extensions and it has been extended in the past) to pay holders the original $10 issue price of those shares.<\/p>\n

Class A Shares:
\ni. to provide holders with regular monthly cash distributions currently targeted to be at the annualized rate of 15% based upon the volume-weighted average trading price of the Class A Shares for the last three trading days of the preceding month; and
\nii. on or about the termination date, currently December 1, 2028 (subject to further 5 year extensions and it has been extended in the past) to pay holders the original issue price of those shares.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Quadravest has announced: Canadian Banc Corp. (the \u201cCompany\u201d) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) and Class A Shares (TSX: BK) of the Company. The offering will be …<\/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-52713","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52713","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=52713"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52713\/revisions"}],"predecessor-version":[{"id":52714,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52713\/revisions\/52714"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}