With an eMail headed NXY.PR.U, I was asked: Can you please comment on how to classify the subject preferred shares ? How would you rate the credit risk ? NXY.PR.U is more formally referred to …
Search Results for: conversion
March 8, 2010
The US Budget squabbling has begun: President Barack Obama’s budget proposal would generate bigger deficits than advertised every year of the next decade, with the shortfalls totaling $1.2 trillion more than the administration estimated, according …
Contingent Capital Criticized
The Telegraph recently published a story Mervyn King’s plan for bank capital ‘will backfire’: Bankers and shareholders, however, fear that the act of converting cocos into equity would be a “red flag” to the market, …
BPP: Proposed Plan of Arrangement to become REIT
BPO Properties has announced: a proposal to create Canada’s pre-eminent office real estate investment trust (REIT). Upon conversion, the new REIT, to be named Brookfield Office Properties Canada, will acquire BPP’s directly owned office assets …
Moody's Discusses Contingent Capital
Moody’s has discussed Rating considerations for contingent capital securities, which has made its way (via Info-Prod Research (Middle East)) to iStockAnalyst under the title Moody’s Publishes Rating Considerations for Bank Contingent Capital Securities: Moody’s Investors …
BIS Schedule for Regulatory Reform
The Bank for International Settlements issued a press release on January 11 (sorry I’m so late reporting!) titled Group of Central Bank Governors and Heads of Supervision reinforces Basel Committee reform package setting a road …
New Issue: Brookfield Renewable Power Preferred Equity FixedReset 5.25%+262
Brookfield Renewable Power Fund has announced: that the Corporation (as defined below) will issue in Canada a total of 7 million Class A Preference Shares, Series 1 (the “Series 1 Preferred Shares”) guaranteed by the …
IFRS Seg Fund Treatment to Strain Insurer Capital?
In a prior post I discussed IFRS and the Assets-to-Capital Multiple with respect to banks and their mortgage securitization habits, but I’ve just realized there’s another nuance lying in ambush behind the thickets of regulation. …
DBRS: YPG's Reorganization Harmless
Dominion Bond Rating Service has announced: that Yellow Media’s conversion, as described, is not expected to have any impact on its current R-1 (low), BBB (high), BBB and Pfd-3 (high) credit ratings. DBRS notes that …
PWC.PR.B Issues Additional Tranche
Pacific & Western Credit Corp. has announced: that it completed another private placement closing of 250,000 of its Class “B” Preferred Shares on January 25, 2010. Net proceeds from this closing are $5.9 million, and …