Canaccord Genuity Group Inc. has announced: that it does not intend to exercise its right to redeem all or any part of the currently outstanding Cumulative 5-Year Rate Reset First Preferred Shares, Series A of …
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SLF.PR.H To Be Extended
Sun Life Financial Inc. has announced: that it does not intend to exercise its right to redeem its outstanding Class A Non-Cumulative Rate Reset Preferred Shares Series 10R (the “Series 10R Shares”) on September 30, …
BCE.PR.I / BCE.PR.J: Ratchet Proportion Increases 35 Points To 58%
BCE Inc. has announced: that 5,081,951 of its 10,754,990 fixed-rate Cumulative Redeemable First Preferred Shares, Series AI (“Series AI Preferred Shares”) have been tendered for conversion on August 1, 2016, on a one-for-one basis, into …
DBRS Maintains Negative Trend on Bank Debt; Preferreds Stable
DBRS has announced that it: has today maintained the Negative trend on the senior and subordinated debt ratings of the Royal Bank of Canada, The Toronto-Dominion Bank, the Bank of Nova Scotia, the Bank of …
BMO.PR.Q To Reset At 1.805%
Bank of Montreal has announced (although not yet on their website): the applicable dividend rates for its Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 25 (the “Preferred Shares Series 25”) and Non-Cumulative Floating …
BCE.PR.I / BCE.PR.J : Convert Or Hold?
It will be recalled that BCE.PR.I will reset to 2.75% effective August 1. Holders of BCE.PR.I have the option to convert to the RatchetRate issue, BCE.PR.J, which pays a percentage of Canada Prime on the …
CSE.PR.A: Convert Or Hold?
It will be recalled that CSE.PR.A will reset to 3.271% effective July 31. Holders of CSE.PR.A have the option to convert to FloatingResets, which will pay 3-month bills plus 271bp on the par value of …
BCE.PR.I To Reset To 2.75%
BCE Inc. has announced that: BCE Inc. will, on August 1, 2016, continue to have Cumulative Redeemable First Preferred Shares, Series AI (“Series AI Preferred Shares”) outstanding if, following the end of the conversion period …
SJR.PR.B Listed With Some Trading
SJR.PR.B, the new FloatingReset that has come into existence via partial exchange from SJR.PR.A, is now trading. The 17% conversion rate has been reported previously; Assiduous Readers will remember that I recommended against conversion. SJR.PR.A …
BAM.PR.S Listed, No Trading
BAM.PR.S, the new FloatingReset that has come into existence via partial exchange from BAM.PR.R, is now trading. The 14% conversion rate has been reported previously; Assiduous Readers will remember that I recommended against conversion. BAM.PR.R …