Brookfield Office Properties Inc. has announced (on 2026-05-19):
that it intends to redeem all 7,982,204 of its outstanding Class AAA Preference Shares, Series CC (TSX: BPO.PR.C), all of which are held by CDS & Co., as nominee of CDS Clearing and Depositary Services Inc., for cash on June 30, 2026. The redemption price for each such share will be C$25.00. Separately from the redemption price, the final quarterly cash dividend of C$0.382313 per share, will be paid in the usual manner on June 30, 2026, to holders of record on June 15, 2026.
Notice of Redemption has been sent to CDS & Co. Payment of the redemption price will be made to all beneficial holders of the Series CC Shares on or after June 30, 2026 through the facilities of CDS & Co.
BPO.PR.C was issued as a FixedReset, 6.00%+518M600, that commenced trading 2016-4-27 after being announced 2016-4-18. It reset to 6.12% in 2021 with no conversion. The issue has been tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
Thanks to the Assiduous Reader who brought this to my attention!