Canadian Banc Corp. Announces Overnight Offering

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Postmedia has not reviewed the content. by GlobeNewswire Canadian Banc Corp. Announces Overnight OfferingAuthor of the article:TORONTO, Oct. 14, 2026 (GLOBE NEWSWIRE) — Canadian Banc Corp. (the “Company”) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) and Class A Shares (TSX: BK) of the Company. The offering will be led by National Bank Financial Inc.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe sales period of this overnight offering will end at 8:30 a.m. (Toronto time) on October 15, 2026. The offering is expected to close on or about October 22, 2026 and is subject to certain closing conditions including approval by the TSX.This advertisement has not loaded yet, but your article continues below.The Preferred Shares will be offered at a price of $10.35 per Preferred Share and the Class A Shares will be offered at a price of $15.40 per Class A Share.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.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 againThe closing price on the TSX of each of the Preferred Shares and Class A Shares on October 13, 2026 was $10.42 and $15.77, respectively.Since inception of the Company, the aggregate dividends paid on the Preferred Shares have been $11.98 per share and the aggregate dividends paid on the Class A Shares have been $26.64 per share, for a combined total of $38.62 per unit. All distributions paid to date have been made in tax advantage eligible Canadian dividends or capital gains dividends.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: Bank of MontrealCanadian Imperial Bank of CommerceRoyal Bank of Canada The Bank of Nova ScotiaNational Bank of CanadaThe Toronto-Dominion Bank The Company’s investment objectives are:to 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; 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.This advertisement has not loaded yet, but your article continues below.to provide holders with regular monthly cash distributions currently targeted to be at the annualized rate of 15% based upon the volume-weighted average trading price of the Class A Shares for the last three trading days of the preceding month; 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 issue price of those shares.A 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 agent 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.Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.canadianbanc.com info@quadravest.comThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.