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Partners Value will publicly offer C$100 million preferred shares
Chicago, March 17 – Partners Value Split Corp. stated that it will publicly offer C$100 million class AA 4.45% preferred shares, series 13 (DBRS: Pfd-2 (low)), according to a press release.
The bought deal for 4 million shares is being led by Scotiabank, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and TD Securities Inc.
Shares will be sold at C$25.00 per share.
The final maturity date is May 31, 2029.
There will be an over-allotment option for an additional 2 million shares, for a total possible offering size of C$150 million.
The offer is expected to close on March 25.
Proceeds will be used to pay a special dividend on the company’s capital shares.
Partners Value is a Toronto-based financial services company.
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