Partners Value offers C$100 million 4.75% five-year preferreds

By James McCandless

San Antonio, Sept. 25 – Partners Value Split Corp. plans to sell a C$100 million offering of C$25-par series 11 class AA preferred shares (DBRS: Pfd-2) with a final maturity date of Oct. 31, 2025 and a dividend of 4.75%, according to a press release.

There is a C$50 million greenshoe.

Scotiabank, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. are the bookrunners.

The company will use the proceeds to partially fund the redemption of its series 6 class AA preferred shares

Partners Value is a Toronto-based financial services company.

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