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Laurentian Bank of Canada Announces Closing of C$125 Million NVCC Preferred Share Offering
Laurentian Bank of Canada Announces Closing of C$125 Million NVCC Preferred Share Offering...
About this update from Laurentian Bank Of Canada
[{"type":"text","content":"\n\n\n\nLaurentian Bank of Canada Announces Closing of C$125 Million NVCC Preferred Share Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nLaurentian Bank of Canada Announces Closing of C$125 Million NVCC Preferred Share Offering\nCanada NewsWire\nMONTREAL, March 17, 2016\n\n\n\nNot for distribution to U.S. news wire services or dissemination in the United States.\n\n\n\nMONTREAL, March 17, 2016 /CNW Telbec/ - Laurentian Bank of Canada (TSX: LB) (\"Laurentian Bank\" or the \"Bank\") has announced today that it has closed its previously announced public offering, on a bought deal basis, of 5,000,000 Non-Cumulative Class A Preferred Shares, Series 15 (Non Viability Contingent Capital (NVCC)) (the \"Preferred Shares Series 15\"), including 1,000,000 Preferred Shares Series 15 that were issued pursuant to the partial exercise of the underwriters' option to purchase additional shares, at a price of $25.00 per share for gross proceeds of $125 million (the \"Offering\"). \n\nThe Offering was underwritten by a syndicate led by BMO Capital Markets, TD Securities Inc. and RBC Dominion Securities Inc. \n\nThe Preferred Shares Series 15 will commence trading on the Toronto Stock Exchange today under the ticker symbol \"LB.PR.J\".\n\nThe Preferred Shares Series 15 were issued pursuant to a prospectus supplement dated March 10, 2016 to Laurentian Bank's short form base shelf prospectus dated November 10, 2014.\n\nThe net proceeds of this Offering will be added to the Bank's general funds and will be used for general corporate purposes.\n\nThe securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933 (the \"U.S. Securities Act\"), as amended, and may not be offered, sold or delivered, directly or indirectly, in the United States, its territories, its possessions and other areas subject to its jurisdiction or to, of for the account or benefit of, a U.S. person (as such term is defined in the U.S. Securities Act), absent registration or an applicable exemption from the registration requirements.  This press release shall not constitu...