{"id":5391,"date":"2009-02-06T19:57:26","date_gmt":"2009-02-06T23:57:26","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=5391"},"modified":"2009-02-06T19:57:26","modified_gmt":"2009-02-06T23:57:26","slug":"newprb-considering-term-extension","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=5391","title":{"rendered":"NEW.PR.B Considering Term Extension"},"content":{"rendered":"<p>NewGrowth Corp <a href=\"http:\/\/www.scotiamanagedcompanies.com\/mcapp\/NEW_02_06_2009.pdf?FILE=NEW_02_06_2009.pdf&#038;TYPE=PRESS_RELEASE&#038;CONTENT_TYPE=pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that its Board of Directors has retained Scotia Capital to advise the Company on a possible extension and reorganization of the Company. There is no guarantee that after such review an extension will be proposed or if proposed, will be approved by shareholders.<\/p>\n<p>NewGrowth Corp. is a mutual fund corporation whose investment portfolio consists of publicly-listed securities of selected Canadian chartered banks and utility issuers. The Capital Shares and Preferred Shares of NewGrowth Corp. are both listed for trading on The Toronto Stock Exchange under the symbols NEW.A and NEW.PR.B respectively.<\/p><\/blockquote>\n<p>The preferreds currently have asset coverage of 1.9+:1 as of February 5, according to <a href=\"http:\/\/www.scotiamanagedcompanies.com\/mcapp\/profile.do?com=NEW\">Scotia<\/a> and are <a href=\"http:\/\/www.scotiamanagedcompanies.com\/mcapp\/NEW_Prospectus_06_17_2004.pdf?FILE=NEW_Prospectus_06_17_2004.pdf&#038;TYPE=STATEMENT&#038;CONTENT_TYPE=pdf\">scheduled for full redemption<\/a> June 26, 2009. There was a <a href=\"http:\/\/www.prefblog.com\/?p=2260\">tiny call for redemption<\/a> in June 2008, at which date there was a <a href=\"http:\/\/www.scotiamanagedcompanies.com\/mcapp\/NEW_Annual_06_26_2008.pdf?FILE=NEW_Annual_06_26_2008.pdf&#038;TYPE=STATEMENT&#038;CONTENT_TYPE=pdf\">face value of $42.5-million in preferreds outstanding<\/a><\/p>\n<p>NEW.PR.B is not tracked by HIMIPref\u2122.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NewGrowth Corp has announced: that its Board of Directors has retained Scotia Capital to advise the Company on a possible extension and reorganization of the Company. There is no guarantee that after such review an &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-5391","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/5391","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=5391"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/5391\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}