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TORONTO, Jan. 16, 2026 (GLOBE NEWSWIRE) — Canadian Banc Corp. (the “Company”) is pleased to announce it has completed the overnight offering of Preferred Shares (TSX: BK.PR.A) of the Company. Total gross proceeds of the offering were $103.2 million.
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The Preferred Shares will begin trading on the Toronto Stock Exchange under the existing symbol of BK.PR.A.
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The offering was led by National Bank Financial Inc.
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The 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:
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| Bank of Montreal | Canadian Imperial Bank of Commerce | Royal Bank of Canada |
| The Bank of Nova Scotia | National Bank of Canada | The Toronto-Dominion Bank |
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The Company’s Preferred Share investment objectives are to:
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- provide 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; and
- on 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.
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus supplement to the Company’s short form base shelf prospectus dated June 18, 2025, before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company’s publicly filed documents which are available on SEDAR+ at www.sedarplus.com.
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English (US)