National Bank of Canada to issue $750M NVCC preferreds
National Bank of Canada will issue 750,000 Series 52 NVCC preferred shares at $1,000 each to raise $750M. The shares pay a 6.570% fixed dividend until Nov. 16, 2031, then reset every 5 years at GoC 5Y + 2.90%, with a redemption window from Oct. 16 to Nov. 16, 2031 subject to approvals.
National Bank of Canada will issue 750,000 Series 52 NVCC preferred shares at $1,000 each, for gross proceeds of $750M. 570% fixed dividend rate until Nov. 90%. The redemption window runs from Oct.
16 to Nov. 16, 2031, subject to required approvals.