ETF conversion planned if units trade at a discount to net asset value
Syndicate agents for the initial public offering of the Horizons AlphaPro Gartman Fund have exercised the over-allotment option for an additional 265,000 Class A units of the fund, Jovian Capital Corp. said Wednesday.In total, the fund has issued approximately 5.8 million Class A and Class F units, for gross proceeds of approximately $58 million. The […]
HSBC Bank Canada has completed its $250 million offering of preferred shares, the bank said Wednesday.The 10 million Non-Cumulative 5-Year Rate Reset Class 1 Preferred Shares Series E were issued at a price of $25 a share. The offering was made through a syndicate of underwriters led by HSBC Securities (Canada) Inc. and Scotia Capital […]
Structured products have also shown a steady decline
HSBC Bank Canada intends to file an amended and restated prospectus supplement for the previously announced offering of Non-Cumulative 5-Year Rate Reset Class 1 Preferred Shares Series E, the bank said Wednesday.The amendment is a result of ratings action announced on March 31 by Standard and Poor’s on the hybrid capital securities of over 60 […]
A group of underwriters have exercised its option in full to purchase an additional 3 million preferred shares of Toronto-Dominion Bank, the bank said Tuesday.The non-cumulative 5-Year Rate Reset Class A Preferred Shares, Series AK carry a face value of $25 a share.This brings the total issue announced on March 26, and expected to close […]
Series AK shares to yield 6.25% annually
The O’Leary Global Income Opportunities Fund has successfully issued an additional 725,000 units for total gross proceeds of $110.7 million, O’Leary Funds Management LP announced on Wednesday.The additional units were issued under the over-allotment option in the issue. The fund was created to invest globally, primarily in publicly-traded investment grade corporate bonds, convertible debt securities, […]
Horizons AlphaPro Gartman Fund has closed its initial public offering of 4.85 million Class A units and approximately 0.65 million Class F units of the fund for gross proceeds of more than $55 million, AlphaPro Management Inc. said Thursday.The Class A units are listed for trading on the Toronto Stock Exchange under the symbol HAG.UN.The […]
Series AK to yield 6.25% annually