{"id":159,"date":"2006-10-12T13:06:12","date_gmt":"2006-10-12T17:06:12","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=159"},"modified":"2006-10-12T13:06:12","modified_gmt":"2006-10-12T17:06:12","slug":"bceprt-reset-rate-announced","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=159","title":{"rendered":"BCE.PR.T Reset Rate Announced"},"content":{"rendered":"<p>BCE <a href=\"http:\/\/www.bce.ca\/en\/news\/releases\/corp\/2006\/10\/11\/73896.html\">has announced<\/a> that the dividend rate on BCE.PR.T will be reset to 4.502% (or $1.1255 p.a. on a $25 par value share).<\/p>\n<p>This issue is not currently outstanding, but is being offered <a href=\"http:\/\/www.prefblog.com\/?p=115\">in exchange for BCE.PR.S<\/a>, a ratchet-rate issue.<\/p>\n<p>BCE is currently contemplating reorganizing into an income trust and in connection with this is <a href=\"http:\/\/www.prefblog.com\/?p=153\">offering to purchase<\/a> all outstanding preferred shares. They are offering $25.60 for BCE.PR.S and $25.75 for BCE.PR.T.<\/p>\n<p>\u00a0BCE.PR.S closed on October 11 at $25.10-15. From a strictly yield-curve-comparative perspective, this issue is considered expensive by HIMIPref\u2122 but, of course, it&#8217;s awfully tempting to buy all one can at these levels, convert to BCE.PR.T and await execution of all of BCE&#8217;s plans. Given that all this is event-driven, however, I will not state my views publicly at this time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BCE has announced that the dividend rate on BCE.PR.T will be reset to 4.502% (or $1.1255 p.a. on a $25 par value share). This issue is not currently outstanding, but is being offered in exchange &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-159","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/159","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=159"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/159\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}