June 3 (Reuters) - Premium Income Corp PICa.TO :
* PREMIUM INCOME CORPORATION ANNOUNCES OVERNIGHT OFFERING
* PREMIUM INCOME CORP - UNDERTAKING AN OVERNIGHT TREASURY OFFERING OF PREFERRED SHARES AND CLASS A SHARES.
* PREMIUM INCOME CORP - PREFERRED SHARES WILL BE OFFERED AT A PRICE OF $14.75 PER PREFERRED SHARE TO YIELD 5.94%
* PREMIUM INCOME CORP - CLASS A SHARES WILL BE OFFERED AT AN INDICATIVE PRICE OF $6.45 PER CLASS A SHARE TO YIELD 12.6%