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Stock impact report

Canadian Banc Corp. Completes Overnight Offering of $103,200,000 [Yahoo! Finance]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
Total gross proceeds of the offering were $103.2 million. The Preferred Shares will begin trading on the Toronto Stock Exchange under the existing symbol of BK.PR.A. The offering was led by National Bank Financial Inc. 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: Bank of Montreal Canadian Imperial Bank of Commerce Royal Bank of Canada The Bank of Nova Scotia National Bank of Canada The Toronto-Dominion Bank The Company's Preferred Share investment objectives are 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 on or about the termination date, currently December 1, 2028 (subject to further 5 year extensions and it has been extended in the pas Show less Read more
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