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National Bank and Canadian Western Bank confirm that the previously announced amendments for the CWB Tier 1 Capital Reorganization have been approved
National Bank and Canadian Western Bank confirm that the previously announced amendments for the ...
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[{"type":"text","content":"\n\n\n\n National Bank and Canadian Western Bank confirm that the previously announced amendments for the CWB Tier 1 Capital Reorganization have been approved\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n CWB Preferred Shares Series 5 & 9: Approved\n \n\n\n\n CWB Limited Recourse Capital Notes Series 1 & 2: Approved\n \n\n\n\n\n MONTREAL\n \n and\n \n EDMONTON, AB\n \n\n ,\n \n\n Nov. 28, 2024\n \n\n /CNW/ - On\n \n October 16, 2024\n \n , National Bank of\n \n Canada\n \n (TSX: NA) (\"\n \n National Bank\n \n \") and Canadian Western Bank (TSX: CWB) (\"\n \n CWB\n \n \") announced a tier 1 capital reorganization, involving the amendments to the following CWB securities:\n \n\n\n\n $125 million\n \n First Preferred Shares Series 5 (Non-Viability Contingent Capital (NVCC)) (the \"\n \n Series 5 Preferred Shares\n \n \");\n \n\n\n $125 million\n \n First Preferred Shares Series 9 (NVCC) (the \"\n \n Series 9 Preferred Shares\n \n \" and together with the Series 5 Preferred Shares, the \"\n \n Preferred Shares\n \n \");\n \n\n\n $175 million\n \n 6.00% Limited Recourse Capital Notes Series 1 (NVCC) (Subordinated Indebtedness) (the \"\n \n Series 1 LRCNs\n \n \"); and\n \n\n\n $150 million\n \n 5.00% Limited Recourse Capital Notes Series 2 (NVCC) (Subordinated Indebtedness) (the \"\n \n Series 2 LRCNs\n \n \" and together with the Series 1 LRCNs, the \"\n \n LRCNs\n \n \").\n \n\n\n\n The Preferred Share Amendments\n \n\n\n CWB is pleased to announce the voting results from its special meetings of the holders of the Series 5 Preferred Shares and the Series 9 Preferred Shares, which were conducted today to approve certain amendments to the terms of the Series 5 Preferred Shares and the Series 9 Preferred Shares (the \"\n \n Preferred Share Amendments\n \n \"):\n \n\n\n Series 5 Preferred Shares: the resolution was approved by 95.48% of the votes cast by S...