Brookfield Asset Management Inc. has announced:
that after having taken into account all election notices received by the March 16, 2017 deadline for the conversion of the Cumulative Class A Preference Shares, Series 26 (the “Series 26 Shares”) (TSX: BAM.PR.T) into Cumulative Class A Preference Shares, Series 27 (the “Series 27 Shares”), the holders of Series 26 Shares are not entitled to convert their Series 26 Shares into Series 27 Shares. There were 183,036 Series 26 Shares tendered for conversion, which is less than the one million shares required to give effect to conversions into Series 27 Shares.
Assiduous Readers will remember that I recommended against conversion after the reset to 3.471% for BAM.PR.T.
So BAM.PR.T is now a FixedReset, 3.471%+231. It is tracked by HIMIPref™ and is assigned to the FixedReset subindex.
This entry was posted on Wednesday, March 22nd, 2017 at 9:45 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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BAM.PR.T : No Conversion to FloatingReset
Brookfield Asset Management Inc. has announced:
Assiduous Readers will remember that I recommended against conversion after the reset to 3.471% for BAM.PR.T.
So BAM.PR.T is now a FixedReset, 3.471%+231. It is tracked by HIMIPref™ and is assigned to the FixedReset subindex.
This entry was posted on Wednesday, March 22nd, 2017 at 9:45 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.