Canadian Banc Corp. Announces Successful Overnight Offering of Preferred Shares
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This section is Partnership Content suppliedThe content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Article contentTORONTO, Jan. 09, 2026 (GLOBE NEWSWIRE) — Canadian Banc Corp. (the “Company”) is pleased to announce it has completed the overnight marketing of Preferred Shares (TSX: BK.PR.A) of the Company. Total gross proceeds of the offering are expected to be approximately $103.2 million.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe offering is being led by National Bank Financial Inc.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentThe sales period of the overnight offering has now ended.Article contentThe offering is expected to close on or about January 16, 2026 and is subject to certain closing conditions including approval by the TSX.Article contentArticle contentThe Preferred Shares are being offered at a price of $10.32 per Preferred Share.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe closing price on the TSX of the Preferred Shares on January 8, 2026 was $10.38.Article contentThe net proceeds of the offering will be used by the Company to invest in a portfolio consisting primarily of six publicly traded Canadian Banks as follows: Article contentBank of MontrealCanadian Imperial Bank of CommerceRoyal Bank of CanadaThe Bank of Nova ScotiaNational Bank of CanadaThe Toronto-Dominion BankArticle contentThe Company’s Preferred Share investment objectives are to:Article contentprovide holders with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the prevailing Canadian prime rate plus 1.50% (minimum annual rate of 5.0% and maximum annual rate of 8.0%) based on original $10 issue price; andon or about the termination date, currently December 1, 2028 (subject to further 5 year extensions and it has been extended in the past) to pay holders the original $10 issue price of those shares.Article contentA prospectus supplement to the Company’s short form base shelf prospectus dated June 18, 2025, containing important detailed information about the Preferred Shares and the Class A Shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in each of the provinces of Canada.Article contentArticle contentInvestor Relations:1-877-478-2372 Local: 416-304-4443www.canadianbanc.cominfo@quadravest.com Article contentArticle contentArticle contentArticle contentArticle contentArticle contentArticle contentTrending A love letter to those who don’t believe in RRSPs Personal Finance Why HELOCs make a heck of a lot of sense in 2026 Mortgages Jennifer’s CPP, OAS and pension may not be enough income. Will RRSP, TFSA and other assets allow her to retire? Retirement Trump once again puts critical Canadian industry in crosshairs Oil & Gas How to make a million a year playing disc golf News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. A love letter to those who don’t believe in RRSPs Personal Finance Why HELOCs make a heck of a lot of sense in 2026 Mortgages Jennifer’s CPP, OAS and pension may not be enough income. Will RRSP, TFSA and other assets allow her to retire? Retirement Trump once again puts critical Canadian industry in crosshairs Oil & Gas How to make a million a year playing disc golf News