Great-West Releases Quarterly Report … Everything on Hold

Great-West has released its 1Q07 report. There are two issues I was looking forward to hearing about:

(i) GWO.PR.X / GWO.PR.E Issuer Bid: Nothing happened! The company did not purchase any shares of either target on the open market in the first quarter. There was also no announcement regarding the possible redemption of CL.PR.B … I suspect they’re still getting their ducks in a row for …

(ii) Financing of the Putnam Acquisition: There was no announcement, just a reiteration that financing will include issues of equity, debentures and hybrids [probably preferred shares – JH], bank credit and securitization of the tax benefits.

9 Responses to “Great-West Releases Quarterly Report … Everything on Hold”

  1. […] Now with a pre-tax bid-YTW of 3.41% based on a bid of 26.26 and a call 2009-4-30 at 25.50. There are interesting things happening at GWO … but they’re not public just yet. […]

  2. […] Now with a pre-tax bid-YTW of 4.62% based on a bid of 25.30 and a call 2014-10-30 at 25.00. There is http://www.prefblog.com/?p=823″>some uncertainty as to what GWO will be doing in the capital markets in the near future. […]

  3. […] Frankly issue terms are ferociously complex and quite a bit of time will be required to understand the provisions of this debt. However, one way or another, it looks like the funding push is underway and GWO may now start clarifying the situation with respect to preferreds. […]

  4. […] Now with a pre-tax bid-YTW of 5.37% based on a bid of 25.71 and a call 2011-1-30 at 25.00. Still not called, despite their recent financing. Astonishing; I can only suppose they’re waiting to complete the rest of their capital markets programme. […]

  5. […] Now with a pre-tax bid-YTW of -4.86% based on a bid of 26.26 and a call 2007-8-4 at 26.00. This issue is leading a charmed life. […]

  6. […] Now with a pre-tax bid-YTW of 4.47% based on a bid of 25.27 and a call 2011-4-30 at 25.00. There is still some some uncertainty about GWO’s capital market plans, despite the recent successful bond issue. […]

  7. […] Great-West Lifeco, the parent, will announce second quarter results on August 1. I do hope they will announce the redemption of CL.PR.B … the continued existence of this issue is making my life miserable. GWL.PR.L is not tracked by HIMIPref™. […]

  8. […] Desjardins crossed 72,100 at 26.85. Now with a pre-tax bid-YTW of 3.61% based on a bid of 26.65 and a call 2009-10-30 at 26.00. Note that there is some uncertainty about GWO’s capital market plans, despite the clarifying effect of today’s announcement of the GWL.PR.L redemption. […]

  9. […] Now with a pre-tax bid-YTW of 4.62% based on a bid of 25.30 and a call 2014-10-30 at 25.00. There is some uncertainty as to what GWO will be doing in the capital markets in the near future. […]

Leave a Reply

You must be logged in to post a comment.