Canadian Banc Corp. completes C$28.6M overnight offering
Date Closed
June 8, 2022
Lead Office
Toronto
Value
28.60 Million CAD
On June 8, 2022, Canadian Banc Corp. completed the C28.6 million overnight offering of Preferred Shares and Class A Shares, bringing the Company’s net assets to approximately C$314.6 million. The Preferred Shares were offered at a price of C$10.00 per Preferred Share to yield 5% and the Class A Shares were offered at a price of C$14.50 per Class A Share with a target yield of 14.9%. The offering was led by National Bank Financial Inc.
McCarthy Tétrault LLP advised National Bank Financial Inc. with a team led by Andrew Armstrong that included Michael Eldridge, Paul Santache (Business), Fred Purkey and Gabrielle Richards (Tax).
