Brompton Funds - Mark A. Caranci, President & CEO
Mark A. Caranci, President & CEO
Source: Brompton Split Banc Corp.
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  • Brompton Split Banc Corp. (SBC.PR.A) has completed a treasury offering of preferred shares for gross proceeds of approximately $74 million
  • The shares were offered at a price of $9.55 for an annualized yield to maturity of 7.5 per cent
  • Brompton Split Banc Corp. is an investment fund manager with income-focused investment solutions
  • Brompton Split Banc Corp. Preferred Shares were down 0.21 per cent, trading at $9.50 at 11:08 AM ET

Brompton Split Banc Corp. (SBC.PR.A) has completed a treasury offering of preferred shares for gross proceeds of approximately $74 million.

The preferred shares were offered at a price of $9.55 per preferred share for an annualized yield to maturity of 7.5 per cent.

The preferred shares will trade on the Toronto Stock Exchange (TSX) under the existing symbol SBC.PR.A.

The syndicate of agents 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 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 per cent of the total assets of the portfolio in investments in global financial companies for the purpose of enhanced diversification and return potential.

Brompton Split Banc Corp. is an investment fund manager with income-focused investment solutions, including exchange-traded funds (ETFs) and other TSX-traded investment funds.

Brompton Split Banc Corp. Preferred Shares were down 0.21 per cent, trading at $9.50 at 11:08 AM ET.


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