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Park Lawn greenshoe ups 5¾% debentures to C$86.25 million
By Taylor Fox
Chicago, July 21 – Underwriters of Park Lawn Corp.’s 5¾% senior debentures exercised their C$11.25 million over-allotment option in full, increasing the size of the issue to C$86.25 million, according to a news release.
As previously reported, the debentures due Dec. 31, 2025 were originally priced as a C$75 million offering on June 25 at par. They are non-callable before Dec. 31, 2023, are callable at 102.875 until Dec. 31, 2024 and are redeemable thereafter at par.
CIBC Capital Markets and National Bank Financial Inc. were the lead managers. Additional underwriters were BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Acumen Capital Finance Partners Ltd., Cormark Securities Inc., Paradigm Capital Inc., Raymond James Ltd. and Stifel GMP.
Based in Toronto, Park Lawn owns and operates cemeteries.
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