Brookfield Office Properties has announced:
the completion of its previously announced Preferred Shares, Series P issue in the amount of C$300 million. The offering was underwritten by a syndicate led by RBC Capital Markets, CIBC, Scotia Capital Inc. and TD Securities Inc.
Brookfield Office Properties issued 12.0 million Preferred Shares, Series P at a price of C$25.00 per share yielding 5.15% per annum for the initial 6 ½-year period ending March 31, 2017. Net proceeds from the issue will be added to the general funds of Brookfield Office Properties and be used for general corporate purposes, including the possible redemption or repayment of corporate or other obligations. The Preferred Shares, Series P will commence trading on the Toronto Stock Exchange on October 21, 2010 under the ticker symbol BPO.PR.P.
$300-million! Boy, I haven’t seen such an appetite for junk since high-school!
This issue is a FixedReset, 5.15%+300, announced October 13 with an original issue size of $200-million with a $50-million greenshoe; it was biggie-sized to $300-million on the day of announcement.
BPO.PR.P traded 421,226 shares in a range of 24.90-04 before closing at 25.00-01, 15×9.
Vital statistics are:
BPO.PR.P |
FixedReset |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2040-10-21
Maturity Price : 23.09
Evaluated at bid price : 25.00
Bid-YTW : 4.88 % |
This entry was posted on Thursday, October 21st, 2010 at 9:12 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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BPO.PR.P Steady on Heavy Volume
Brookfield Office Properties has announced:
$300-million! Boy, I haven’t seen such an appetite for junk since high-school!
This issue is a FixedReset, 5.15%+300, announced October 13 with an original issue size of $200-million with a $50-million greenshoe; it was biggie-sized to $300-million on the day of announcement.
BPO.PR.P traded 421,226 shares in a range of 24.90-04 before closing at 25.00-01, 15×9.
Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2040-10-21
Maturity Price : 23.09
Evaluated at bid price : 25.00
Bid-YTW : 4.88 %
This entry was posted on Thursday, October 21st, 2010 at 9:12 pm 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.