{"id":22194,"date":"2013-06-10T20:22:17","date_gmt":"2013-06-11T00:22:17","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22194"},"modified":"2013-06-10T20:22:17","modified_gmt":"2013-06-11T00:22:17","slug":"ema-pr-e","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22194","title":{"rendered":"EMA.PR.E Crashes On Settlement But Volume Good"},"content":{"rendered":"<p>EMA.PR.A is a Straight Perpetual, 4.50%, <a href=\"http:\/\/www.prefblog.com\/?p=22094\">announced May 30<\/a>.<\/p>\n<p>The issue traded 194,975 shares today in a range of 23.28-20 (!) before closing at 23.60-65, 100&#215;500. I assume the underwriters are taking a bath on this issue. Sadly for them, they fully exercised their greenshoe of 1-million shares, taking the issue size up to $125-million; of which about 6% has just evaporated.<\/p>\n<p>EMA.PR.E will be tracked by HIMIPref&trade; but assigned to the Scraps index on credit concerns. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>EMA.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2043-06-10<br \/>\nMaturity Price  : 23.18<br \/>\nEvaluated at bid price : 23.60<br \/>\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>EMA.PR.A is a Straight Perpetual, 4.50%, announced May 30. The issue traded 194,975 shares today in a range of 23.28-20 (!) before closing at 23.60-65, 100&#215;500. I assume the underwriters are taking a bath on &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-22194","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22194","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=22194"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22194\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}