Canadian Banc Corp. Completes Overnight Offering of $103,200,000

Executive Summary

• Canadian Banc Corp. completed an overnight offering of preferred shares, raising $103.2 million in gross proceeds.
• The net proceeds will be used to build a portfolio of six major publicly‑traded Canadian banks.
• The newly issued preferred shares (TSX: BK.PR.A) commence trading on the Toronto Stock Exchange and carry a floating‑rate dividend tied to the Canadian prime rate + 1.50% (minimum 5.0%, maximum 8.0%).

Key Details

• Offering Size: $103.2 million gross proceeds; net proceeds earmarked for bank‑portfolio investments.
• Security Issued: Preferred Shares, ticker BK.PR.A, trading on TSX under the same symbol.
• Lead Manager: National Bank Financial Inc.
• Dividend Terms: Cumulative preferential monthly cash dividend at Canadian prime rate + 1.50% (minimum 5.0%, maximum 8.0%) based on a $10 issue price.
• Maturity/Redemption: Expected termination date December 1, 2028, with possible five‑year extensions; redemption at the original $10 issue price per share.
• Investment Allocation: Proceeds will be allocated to a portfolio of six Canadian banks: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, and Toronto‑Dominion Bank.
• Regulatory Filings: Refer to the short‑form base shelf prospectus supplement dated June 18, 2025 (available on SEDAR+).

Notable Quotes

(No direct quotes were provided in the release.)