The terms of this issue have changed, effective 2006-08-01, in accordance with the prospectus and the resetting of the coupon.
The coupon rate is now 4.65% until 2011-08-01. HIMIPref assumes that on that date it will become a Ratchet-Rate issue, since the company has discretion as to the fixed rate to which the issue will be reset.
No shares were converted to the Ratchet-Rate preferreds, since the holders of less than 2-million shares wished to exercise that privilege.
The old HIMIPref security code for this issue was A38004; following a “term change” reorganization, the new code is A38005.
BC.PR.B / BC.PR.E
Wednesday, August 2nd, 2006The terms of BC.PR.B changed effective 2006-05-01 with the annual dividend declining from $1.3125 to $1.0875. There’s a haircut for you!
Holders had the option to convert to the Ratchet Rate issue, BC.PR.E, and a little bit more than a quarter of the issue was converted. These issues become convertable into each other again on May 1, 2011 (although you may need to contact the company earlier!).
Changes have been put through on HIMIPref to reflect this conversion. Security codes are:
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