{"id":881,"date":"2007-05-31T21:56:12","date_gmt":"2007-06-01T01:56:12","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=881"},"modified":"2007-05-31T21:56:12","modified_gmt":"2007-06-01T01:56:12","slug":"new-issue-globalbanc-advantaged-8-45-55-year-retractibles","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=881","title":{"rendered":"New Issue : GlobalBanc Advantaged 8, 4.5%, 5.5-Year Retractibles"},"content":{"rendered":"<p>This is an interesting one.<\/p>\n<p>GlobalBanc Advantaged 8 Split Corp. announced today (via <a href=\"http:\/\/www.ccnmatthews.com\">CCN Matthews<\/a>) that:<\/p>\n<blockquote><p>it has filed and has received a receipt dated May 30, 2007 from the securities regulators of all the Canadian provinces and territories for the final prospectus for its offering of Preferred Shares and Class A Shares, for a total maximum offering size of up to $150 million. The Preferred Securities have been provisionally rated Pfd-2 by DBRS Limited. The offering is scheduled to close on or about June 26, 2007.\u00a0 The Toronto Stock Exchange (&#8220;TSX&#8221;) has conditionally approved the listing of the shares, subject to fulfillment by the Company of the requirements of the TSX (Class A Shares &#8211; GBA; and Preferred Shares &#8211; GBA.PR.A).<\/p>\n<p><strong>&#8230;.<\/strong><br \/>\nThe investment objectives with respect to the Preferred Shares are: (i) to provide holders with fixed cumulative preferential quarterly cash distributions that are expected to consist of non-taxable returns of capital and capital gains in the amount of $0.1125 per Preferred Share, representing a yield on the issue price of the Preferred Shares of 4.5% per annum; and (ii) to return $10.00 per Preferred Share at the time of redemption of such Preferred Shares on December 15, 2012. The Preferred Shares have been provisionally rated Pfd-2 by DBRS Limited.<\/p><\/blockquote>\n<p>I have not yet decided whether this issue will be included in the HIMIPref\u2122 universe.<\/p>\n<p><b>Update, 2007-08-12:<\/b> This issue will not be tracked by HIMIPref&trade;. The <a href=\"http:\/\/www.tsx.com\">TSX<\/a> reports that there are only 2.7-million shares outstanding, for a total par value of $27-million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is an interesting one. GlobalBanc Advantaged 8 Split Corp. announced today (via CCN Matthews) that: it has filed and has received a receipt dated May 30, 2007 from the securities regulators of all the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-881","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/881","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=881"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/881\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}