{"id":14033,"date":"2011-02-08T23:54:13","date_gmt":"2011-02-09T03:54:13","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14033"},"modified":"2011-02-08T23:54:13","modified_gmt":"2011-02-09T03:54:13","slug":"bns-pr-x-drops-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14033","title":{"rendered":"BAM.PR.X Drops on Good Volume"},"content":{"rendered":"<p>Brookfield Asset Management <a href=\"http:\/\/www.brookfield.com\/content\/2011_press_releases\/brookfield_completes_cdn215_million_preferred_sha-26113.html\">has announced<\/a>:<\/p>\n<blockquote><p>the completion of its previously announced Preferred Shares, Series 28 issue in the amount of CDN$215 million.<\/p>\n<p>Brookfield issued 8,600,000 Preferred Shares, Series 28 at a price of $25.00 per share, for gross proceeds of CDN$215,000,000. Holders of the Preferred Shares, Series 28 will be entitled to receive a cumulative quarterly fixed dividend yielding 4.60% annually for the initial period ending June 30, 2017. Thereafter, the dividend rate will be reset every five years at a rate equal to the 5-year Government of Canada bond yield plus 1.80%. The Preferred Shares, Series 28 will commence trading on the Toronto Stock Exchange on February 8, 2011 under the ticker symbol BAM.PR.X.<\/p>\n<p>Brookfield has granted the underwriters an over-allotment option, exercisable for a period of 30 days following closing, to purchase up to an additional 1,290,000 Preferred Shares, Series 28 which, if exercised, would increase the gross offering size to CDN$247,250,000.<\/p>\n<p>The net proceeds of the issue will be used for general corporate purposes, including funding a portion of the company\u2019s acquisition of additional common shares in U.S. mall operator General Growth Properties Inc.<\/p><\/blockquote>\n<p>The issue is a FixedReset, 4.60%+180, <a href=\"http:\/\/www.prefblog.com\/?p=13787\">announced January 19<\/a>.<\/p>\n<p>The issue traded 206,559 shares today in a range of 24.63-88 before closing as 24.70-75.<\/p>\n<p>Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2041-02-08<br \/>\nMaturity Price  : 22.99<br \/>\nEvaluated at bid price : 24.70<br \/>\nBid-YTW : 4.55 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>BAM.PR.X will be tracked by HIMIPref&trade; and incorporated in the FixedReset index.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Asset Management has announced: the completion of its previously announced Preferred Shares, Series 28 issue in the amount of CDN$215 million. Brookfield issued 8,600,000 Preferred Shares, Series 28 at a price of $25.00 per &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-14033","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14033"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/14033\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}