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TORONTO, Dec. 13, 2013 /CNW/ - Big 8 Split Inc. (the "Company")
announced today that it has completed its treasury offering of
1,719,382 Class D Capital Shares, Series 1 (the "Capital Shares") and
1,719,382 Class D Preferred Shares, Series 1 (the "Preferred Shares")
for aggregate gross proceeds of $38,686,095 The Capital Shares and
Preferred Shares will trade on the Toronto Stock Exchange under the
symbols BIG.D and BIG.PR.D, respectively.
The Company also announced that it has redeemed all of its 585,093 Class
B Preferred Shares ("Old Class B Preferred Shares"), 651,155 Class C
Preferred Shares ("Old Class C Preferred Shares") and 1,236,248 Class A
Capital Shares ("Old Capital Shares") currently outstanding in
accordance with their terms. The cash redemption price for the Old
Capital Shares was $27.0359, $12.00 for the Old Class B Preferred
Shares and $12.00 for the Old Class C Preferred Shares.
The Company holds common shares of Bank of Montreal, The Bank of Nova
Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The
Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife Financial
Corporation and Sun Life Financial Inc. (the "Portfolio Shares").
The Preferred Shares were offered at a price of $10.00 per share.
Holders of Preferred Shares will be entitled to receive quarterly fixed
cumulative preferential distributions equal to $0.1125 per Preferred
Share, representing a dividend yield on the offering price of the
Preferred Shares of 4.50%. The Capital Shares were offered at a price
of $12.50 per share. The Capital Shares will provide holders with a
leveraged investment, the value of which is linked to changes in the
market price of the Portfolio Shares.
The offering was placed through a group of investment dealers co-led by
TD Securities Inc., CIBC and Scotiabank, and that includes BMO Capital
Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP
Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Mackie
Research Capital Corporation and Manulife Securities Incorporated.
Information concerning Big 8 Split Inc. is available on our website at www.tdsponsoredcompanies.com.
SOURCE: Big 8 Split Inc.
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