It seems that the Financial Stability Oversight Council is getting annoyed at SEC footdragging on the MMF issue and has issued its own discussion paper: Based on this proposed determination, the Council seeks comment on …
Search Results for: conversion
MAPF Performance: November 2012
The fund outperformed in November, due largely to stellar performance by the insurance-sector DeemedRetractibles with an assist from BNA.PR.C. DeemedRetractibles as a group outperformed FixedResets, +68bp vs. +5bp respectively. The fund’s Net Asset Value per …
TXPL: Changes Made to Methodology
The clowns at S&P have made some changes to their index methodology without issuing a press release; not only that, but the rush-job typographical errors on the TXPL methodology now appear to have been fixed, …
CIU Issues 40-Year Debs At 3.857%
CU Inc. has announced: that it will issue $200,000,000 of 3.857% Debentures maturing on November 14, 2052, at a price of $100.00 to yield 3.857%. This issue was sold by RBC Dominion Securities Inc., BMO …
BCE.PR.Z To Reset To 3.152%
BCE Inc. has announced: BCE Inc. will, on December 1, 2012, continue to have Cumulative Redeemable First Preferred Shares, Series Z (“Series Z Preferred Shares”) outstanding if, following the end of the conversion period on …
NA.PR.Q Rockets to Premium on Impressive Volume
NA.PR.Q, the FixedReset 3.80%+243 announced October 30 settled today. The prospectus, dated October 31 and available on SEDAR, is noteworthy for its hopeless misunderstanding of the NVCC rules: Under the new Basel III rules, effective …
MAPF Performance: October 2012
The fund outperformed in September, due largely to stellar performance by the SLF DeemedRetractibles, BNA.PR.C and several lower-rated issues. In contrast to the last few months, GWO, MFC & IAG DeemedRetractibles merely kept pace with …
New Issue: AQN FixedReset, 4.50%+294
Algonquin Power & Utilities Corp. (“APUC” in the press release) has announced: that it will issue 4.8 million cumulative rate reset preferred shares, Series A (the “Series A Shares”) at a price of $25.00 per …
LB.PR.F Reaches Premium On Excellent Volume
LB.PR.F is a FixedReset, 4.00%+260, announced October 11. This issue will be tracked by HIMIPref™ but relegated to Scraps on credit concerns. The prospectus supplement (SEDAR, October 11, 2012) contains some interesting wrinkles on the …
October 17, 2012
Nothing happened today. It was a poor day for the Canadian preferred share market, with PerpetualPremiums losing 10bp, FixedResets off 3bp and DeemedRetractibles down 7bp. Volatility was muted. Volume more than made up in strength …