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TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) -- (TSX: SBC, SBC.PR.A) Brompton Split Banc Corp. (the“Company”) is pleased to announce that it has completed the previously announced treasury offering of preferred shares (“Preferred Shares”) for aggregate gross proceeds of approximately $74 million. The Preferred Shares will trade on the Toronto Stock Exchange (“TSX”) under the existing symbol SBC.PR.A (Preferred Shares).
The Preferred Shares were offered at a price of $9.55 per Preferred Share for an annualized yield to maturity of 7.5%.(1)
The syndicate of agents for the offering was led by RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc., and Scotiabank and included Hampton Securities Limited, Canaccord Genuity Corp., BMO Capital Markets, Raymond James Ltd., TD Securities Inc., iA Private Wealth Inc., Echelon Wealth Partners Inc., Manulife Securities Incorporated, Research Capital Corporation and Richardson Wealth Limited.
The Company invests in a portfolio (the“Portfolio”) consisting of common shares of the six largest Canadian banks: Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, The Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Bank of Montreal. In addition, the Company may hold up to 10% of the total assets of the Portfolio in investments in global financial companies for the purpose of enhanced diversification and return potential.
About Brompton Funds
Founded in 2000, Brompton is an experienced investment fund manager with income focused investment solutions including exchange-traded funds (ETFs) and other TSX traded investment funds.
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