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FINWIRES

Premium Income Closes Overnight Offering of Preferred Shares

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Premium Income (PIC-A.TO) completed its previously announced treasury offering of 2.1-million preferred shares for proceeds of $34.1 million, it said on Thursday.

The preferred shares, which were offered at $16.36 apiece, pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per preferred share representing a yield of 8.50% on the original issue price of $15.00, it said.

The syndicate of agents for the offering was led by National Bank Financial.

Shares of the company were last seen up 1.1% at $9.90 on the Toronto Stock Exchange.

Price: $9.90, Change: $+0.11, Percent Change: +1.12%

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