Details are available at SEDI.
| YLO MTN Buybacks Disclosed 8/24 | |||||
| Issue | Trade Date (?) |
Face | Value | Price | Yield ? |
| 7.3% Feb 2, 2015 | 8/18 | 32,647,000 | 30,831,827 | 94.00 | 9.38% |
| Total for Issue to Date | 120,427,000 | 113,745,119 | |||
| Grand Total to Date | 215,441,350 | 194,563,732 | |||
| Yields have been calculated (using MS-Excel) assuming that the “Transaction Date” reported on SEDI is the Trade Date and that all trades were executed for normal settlement | |||||
The odd number for the total face value (a non-integral multiple of 1,000) has been previously discussed, so don’t start, OK? Totals include all filings commencing August 18.
Readers of the August edition of PrefLetter will understand that I am bitterly disappointed with the company’s decision to pursue buybacks by private contract; I feel that a Dutch Auction Tender, for all issues in one big pot (with conversion factors on the prices of different issues to reflect differing desirability to the company of purchasing the issues) would be a far better way to go.
YLO has the following preferred issues outstanding: YLO.PR.A, YLO.PR.B, YLO.PR.C and YLO.PR.D; the Normal Course Issuer Bid for these issues is still being pursued vigorously.
[…] took a break on its MTN buyback today, with no filings. However, it appears that they continued buying YLO.PR.B, YLO.PR.C and […]