Deal activity is at the lowest level since 1995
Shares will qualify as Tier 1 capital
Fairfax Financial signs on for $25 million in tandem with other investor
Over-allotment boosts proceeds to $1.4 billion
Insurer estimates Q4 loss of $1.5 billion
Over-allotment option raises $12.1 million
Power Financial Corp. announced Friday the successful completion and closing of an offering of 7 million Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series M, priced at $25 per share to raise gross proceeds of $175 million.The issue was bought by an underwriting group led by BMO Capital Markets and Scotia Capital Inc. Following the […]
Proceeds will boost insurer’s liquidity
Offering to close Dec. 11
Offering to help bank maintain strong capital ratios