On June 16, Bombardier announced (emphasis added): In connection with the conversion privilege for holders of its Series 2 and Series 3 Preferred Shares, Bombardier Inc. (TSX: BBD.B) (TSX: BBD.A) (TSX: BBD.PR.B) (TSX:BBD.PR.D) today announced …
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CF.PR.C : Convert or Hold?
It will be recalled that CF.PR.C will reset to 4.993% (paid on par) effective July 1. Holders of CF.PR.C have the option to convert to FloatingResets, which will pay 3-month bills plus 403bp on the …
TA.PR.F : Convert or Hold?
It will be recalled that TA.PR.F will reset to 4.027% (paid on par) effective June 30. Holders of TA.PR.F have the option to convert to FloatingResets, which will pay 3-month bills plus 310bp on the …
IAG.PR.G : Convert or Hold?
It will be recalled that IAG.PR.G will reset to 3.777% (paid on par) effective June 30. Holders of IAG.PR.G have the option to convert to FloatingResets, which will pay 3-month bills plus 285bp on the …
BAM.PR.X : Convert or Hold?
It will be recalled that BAM.PR.X will reset to 2.727% (paid on par) effective July 1. Holders of BAM.PR.X have the option to convert to FloatingResets, which will pay 3-month bills plus 180bp on the …
June 7, 2017
PerpetualDiscounts now yield 5.08%, equivalent to 6.60% interest at the standard conversion factor of 1.3x. Long corporates now yield about 3.60%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about …
ENB.PR.C Debuts With No Trading
Assiduous Readers will remember that there was an 8% Conversion from the FixedReset ENB.PR.B to the FloatingReset ENB.PR.C, which the company treated as top secret information. I advised readers not to convert, but to continue …
CF.PR.C To Reset At 4.993%
Canaccord Genuity Group Inc. has announced: the applicable dividend rates for its Cumulative 5-Year Rate Reset First Preferred Shares, Series C (the “Series C Preferred Shares”) and its Cumulative Floating Rate First Preferred Shares, Series …
TA.PR.F To Reset At 4.027%
TransAlta Corporation has announced: that it does not intend to exercise its right to redeem all or any part of the currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series C (“Series C Shares”) …
IAG.PR.G To Reset At 3.777%
Industrial Alliance Insurance and Financial Services Inc. has announced: that it does not intend to exercise its right to redeem all or any part of its currently outstanding Non-Cumulative 5-Year Rate Reset Class A Preferred …