The Basel Committee on Banking Supervision has released the Global systemically important banks: assessment methodology and the additional loss absorbency requirement, which contains a series of points regarding Contingent Capital. The idea of using the …
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October 27, 2011
BAM is starting a Dubai property fund: Brookfield Asset Management Inc. and a Dubai government investment arm will start a $1 billion fund to buy real estate assets in the emirate after prices dropped by …
BCE.PR.T to Reset Dividend Rate to 3.393%
BCE Inc. has announced (emphasis from original): BCE Inc. will, on November 1, 2011, continue to have Cumulative Redeemable First Preferred Shares, Series T outstanding if, following the end of the conversion period on October …
BMO.PR.V: Taxes Payable on Redemption
This issue is USD denominated and as such is not included in the HIMIPref™ universe, but I received a query about it anyway, regarding taxes payable on redemption. The paid-up capital for the shares is …
September 30, 2011
Hurray for Solar Power! The 15 mile-per-hour winds that buffeted northern Germany on July 24 caused the nation’s 21,600 windmills to generate so much power that utilities such as EON AG and RWE AG (RWE) …
BAM.PR.G to Reset to 3.80%
See updates, below I have heard from a non-authoritative source that: 4. The series 9 Preferred Shares curently pay a fixed annual dividend of 4.35% applied to $25.00 per share, payable quarterly. the final quarterly …
YLO: Banks Tighten the Screws
Yellow Media Inc. has announced (bolding added): Company will record a goodwill impairment charge of $2.9 billion Company eliminates future dividends on its common shares Company agrees to amend credit agreement following recent downgrade to …
S&P Downgrades CM.PR.D & CM.PR.E One Notch on NVCC
Standard & Poor’s has announced: CIBC has received confirmation from its regulators establishing two rated hybrid issues as nonviable contingent capital (NVCC) instruments. We’re lowering our ratings on the two CIBC hybrids to ‘BBB+’ from …
New Issue: CU FixedReset 4.00%+240
Canadian Utilities first announced: it has entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets and BMO Capital Markets, and including TD Securities Inc. and Scotia Capital Inc. The underwriters …
YLO MTN BuyBacks: Filings 2011-8-29
Details are available at SEDI. YLO MTN Buybacks Disclosed 8/29 Issue TradeDate(?) Face Value Price Yield? 5.25% Feb 15, 2016 8/24 47,000 39,105 83.14 10.03% Total for Issue to Date 67,486,350 56,277,068 5.71% April …