RONA announces $125 million share offering

RONA, one of Canada’s largest chain of home improvement retail outlets, has announced that it will launch an offering of rate reset preferred in partnership with a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets, who are acting as joint book runners.

Under this agreement, the underwriters have agreed to purchase, on a bought-deal basis, 5,000,000 Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares at a price of $25.00 per share for aggregate gross proceeds to RONA of $125 million.