BAM.PF.B Closes Firm on Good Volume

Brookfield Asset Management has announced:

the completion of its previously announced Class A Preference Shares, Series 34 issue in the amount of CDN$250,000,000.

Brookfield issued 10,000,000 Series 34 Shares at a price of CDN$25.00 per share, for total gross proceeds of CDN$250,000,000. Holders of the Series 34 Shares will be entitled to receive a cumulative quarterly fixed dividend yielding 4.20% annually for the initial period ending March 31, 2019. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 2.63%. The Series 34 Shares will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BAM.PF.B.

BAM.PF.B is a FixedReset, 4.20%+263, announced August 23. The issue traded 332,922 shares today in a range of 24.91-00 before closing at 24.96-00, 30×219. Vital Statistics are:

BAM.PF.B FixedReset YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2042-09-12
Maturity Price : 23.08
Evaluated at bid price : 24.96
Bid-YTW : 3.95 %

This entry was posted on Thursday, September 13th, 2012 at 1:07 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.

One Response to “BAM.PF.B Closes Firm on Good Volume”

  1. September 12, 2012 « PrefBlog says:
    September 13, 2012 at 1:17 am

    […] PrefBlog Canadian Preferred Shares – Data and Discussion « BAM.PF.B Closes Firm on Good Volume […]

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