Not much to report here! BRF.PR.B, a FloatingReset +262 that has resulted from a partial conversion of BRF.PR.A but there were no trades and a $5.00 spread on the quote.
However, TMXMoney reports that there are 4,518,289 shares outstanding compared to 5,481,711 for BRF.PR.A, implying a 45% conversion rate, in line with the recent 42% rate for BNS.PR.Y / BNS.PR.D and 43% rate for AIM.PR.A / AIM.PR.G despite my exhortation to continue to hold the FixedReset half of the pair.
For what it’s worth, the bid on BRF.PR.B looks reasonable relative to the bid on BRF.PR.A, resulting in an implied averge 3-month bill rate of 0.06% which, while certainly subject to criticism, is not utterly ridiculous compared to other FixedReset / FloatingReset Strong Pairs:
Click for BigVital statistics (again, with the caveat that the quote has a ridiculous spread and is unsupported by any trading activity) are:
| BRF.PR.B |
FloatingReset |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-05-01
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 4.08 % |
This entry was posted on Saturday, May 2nd, 2015 at 12:46 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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BRF.PR.B Listed – No Action Despite 45% Conversion
Not much to report here! BRF.PR.B, a FloatingReset +262 that has resulted from a partial conversion of BRF.PR.A but there were no trades and a $5.00 spread on the quote.
However, TMXMoney reports that there are 4,518,289 shares outstanding compared to 5,481,711 for BRF.PR.A, implying a 45% conversion rate, in line with the recent 42% rate for BNS.PR.Y / BNS.PR.D and 43% rate for AIM.PR.A / AIM.PR.G despite my exhortation to continue to hold the FixedReset half of the pair.
For what it’s worth, the bid on BRF.PR.B looks reasonable relative to the bid on BRF.PR.A, resulting in an implied averge 3-month bill rate of 0.06% which, while certainly subject to criticism, is not utterly ridiculous compared to other FixedReset / FloatingReset Strong Pairs:
Click for Big
Vital statistics (again, with the caveat that the quote has a ridiculous spread and is unsupported by any trading activity) are:
Maturity Type : Limit Maturity
Maturity Date : 2045-05-01
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 4.08 %
This entry was posted on Saturday, May 2nd, 2015 at 12:46 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.