When announcing today’s new issue, Artis Real Estate Investment Trust stated:
Artis intends to use the net proceeds from the Financing to redeem its existing U.S. dollar denominated cumulative redeemable preferred trust units, Series C and for general trust purposes.
This intention (not yet a formal commitment!) was repeated in a later announcement.
AX.PR.U is a FixedReset, 5.25%+446, US Pay, ROC, that commenced trading 2012-9-18 after being announced 2012-9-11. It is callable at par on March 31. The issue has not been tracked by HIMIPref™ as it is US-Pay.