Brief: Versabank announces preferred share offering
12/06/2017 13:30
June 12 (Reuters) - Versabank VB.TO :
* Versabank announces preferred share offering
* Obtained a receipt from securities regulatory authorities
in each of provinces of Canada
* Net proceeds of offering are expected to qualify as Tier 1
capital of bank
* Receipt for preliminary short form prospectus for offering
of up to $30 million of non-cumulative 5-year rate reset
preferred shares, series 5
* The $30 million of non-cumulative 5-year rate reset
preferred shares, series 5 is at a price of $10.00 per share
* About $10 million of net proceeds of offering to be used
for repayment of certain subordinated indebtedness, subject to
regulatory approval
Source text for Eikon: ID:nBw1wCVdBa
Further company coverage: VB.TO
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