Brompton Split Banc Corp. Closes Initial Public Offering at $145,000,000.TORONTO -- Brompton Split Banc Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SBC.PR.A)(TSX:SBC) is pleased to announce that it has completed its initial public offering of 5,800,000 Preferred Shares at $10.00 per share and 5,800,000 Class A Shares at $15.00 per share for gross proceeds of $145,000,000. The Preferred Shares have been provisionally rated Pfd-2 by Dominion Bond Rating Service Dominion Bond Rating Service is a credit rating agency based in Toronto, Ontario. Founded in 1976, it is one of the largest credit rating agencies in Canada. It is one of five Nationally Recognized Statistical Rating Organizations in the United States, though significantly smaller Limited. The Preferred Shares and the Class A Shares begin trading today on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbols SBC.PR.A and SBC respectively. Brompton Split Banc Corp. has been created to provide investors with an equal-weighted investment in the six largest Canadian banks utilizing a split share structure on a low cost basis. Class A shareholders will receive the benefits of monthly cash distributions initially targeted to be 8.0% per annum, low management fees and the opportunity for growth in net asset value. Preferred shareholders will receive attractive quarterly distributions of 5.25% supported by the high credit quality of the underlying assets. Highstreet Asset Management Inc. has been retained to selectively write covered call and cash covered put options to generate additional distributable income for the corporation. The syndicate of agents for the offering is being co-led by CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Inc. and RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
 This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Inc., National Bank Financial Inc., TD Securities Inc., HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Securities (Canada) Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Blackmont Capital Inc., Dundee Securities Corporation, Raymond James Ltd., Research Capital Corporation, IPC Securities Corporation, Wellington West Capital Inc. and Acadian Securities Incorporated. For further information, please contact your financial advisor or visit our website at www.bromptongroup.com. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Brompton Split Banc Corp. (TSX:SBC.PR.A) (TSX:SBC) |
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