Aug 20 (Reuters) - Premium Income Corp PICa.TO :
* PREMIUM INCOME CORPORATION ANNOUNCES OVERNIGHT OFFERING
* UNDERTAKING AN OVERNIGHT TREASURY OFFERING OF PREFERRED SHARES AND CLASS A SHARES
* PREFERRED SHARES WILL BE OFFERED AT AN INDICATIVE PRICE OF $14.70 PER PREFERRED SHARE TO YIELD 5.97%
* CLASS A SHARES WILL BE OFFERED AT AN INDICATIVE PRICE OF $6.10 PER CLASS A SHARE TO YIELD 13.3%