It will be recalled that MFC.PR.F will reset to 2.178% effective June 20. Holders of MFC.PR.F have the option to convert to FloatingResets, which will pay 3-month bills plus 141bp on the par value of …
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GMP.PR.B & GMP.PR.C Downgraded to Pfd-4(high) by DBRS
DBRS has announced: has today downgraded the Cumulative Preferred Shares rating of GMP Capital Inc. (GMP or the Company) to Pfd-4 (high) from Pfd-3 (low). The trend is now Stable. This concludes the review of …
MFC.PR.F To Reset at 2.178%
Manulife Financial Corporation has announced: the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 3 (the “Series 3 Preferred Shares”) (TSX: MFC.PR.F) and Non-cumulative Floating Rate Class 1 Shares Series 4 …
MFC.PR.F To Be Extended
Manulife Financial Corporation has announced: that it does not intend to exercise its right to redeem all or any of its currently outstanding 8,000,000 Non-cumulative Rate Reset Class 1 Shares Series 3 (the “Series 3 …
CIU.PR.C To Reset At 2.24%
CU Inc. has announced: that it has notified the registered shareholder of its Cumulative Redeemable Preferred Shares Series 4 (“Series 4 Preferred Shares”) of a conversion privilege and applicable dividend rates. As a result, subject …
BCE.PR.G To Reset at 2.80%
BCE Inc. has announced: BCE Inc. will, on May 1, 2016, continue to have Cumulative Redeemable First Preferred Shares, Series AG (“Series AG Preferred Shares”) outstanding if, following the end of the conversion period on …
GMP.PR.C Listed: No Trading
Assiduous Readers will remember that GMP.PR.C has sprung into existence as a result of a 22% conversion from FN.PR.A. I recommended against conversion. GMP.PR.B has reset for the next five years at 3.611%, while GMP.PR.C …
FN.PR.B Listed: No Trading, Bid Without
Assiduous Readers will remember that FN.PR.B has sprung into existence as a result of a 28% conversion from FN.PR.A. I recommended against conversion. FN.PR.A has reset for the next five years at 2.79%, while FN.PR.B …
BCE.PR.N Listed: No Trades, No Quote
BCE.PR.N was listed today without fanfare and without trading. Assiduous Readers will remember that this issue results from a 17% conversion from BCE.PR.M, which I recommended against. BCE.PR.M has reset at 2.764% while BCE.PR.N will …
March 30, 2016
It’s nice to see a little high-level push-back against civil forfeiture: Q: What reforms would help fix the flaws in the law? A: I’m working to draft bipartisan reforms to fix these flaws. For starters, …