BEP.PR.E, which has resulted from a 41% conversion from BRF.PR.E commenced trading today.
“Trading” is perhaps a misnomer, because not a single share changed hands; fortunately, the well compensated and strictly supervised market maker stepped up to the plate and the issue closed 16.00-21.00, 9×2, a mere $5 spread.
BEP.PR.E will be tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
| BEP.PR.E | Perpetual-Discount | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-02-11 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 8.86 % |
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