{"id":246,"date":"2006-11-03T12:41:46","date_gmt":"2006-11-03T16:41:46","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=246"},"modified":"2006-11-03T12:41:46","modified_gmt":"2006-11-03T16:41:46","slug":"cmprb-to-be-redeeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=246","title":{"rendered":"CM.PR.B to be Redeemed!"},"content":{"rendered":"<p>CIBC <a href=\"http:\/\/micro.newswire.ca\/release.cgi?rkey=1411038028&#038;view=16497-0&#038;Start=0\">has announced<\/a> that CM.PR.B (Non-cumulative Class A<br \/>\nPreferred Shares Series 24) will be redeemed at $26.00 on January 31, 2007. [Note: the link is to a cgi script. If not accessible, try <a href=\"http:\/\/www.cibc.com\/ca\/investor-relations\/fin-news-rele.html\">here<\/a>.]<\/p>\n<p>\u00a0Not a surprise, really &#8230; perpetuals paying $1.50 are an endangered species, but the idea\u00a0that they might have saved $0.25 p.a. on the redemption price (due to a declining call price)\u00a0added a little piquancy to the speculation.<\/p>\n<p>\u00a0What will be interesting is the resolution of the question: will they replace them with a new issue?<\/p>\n<p><b>Update, 2007-5-10<\/b>: For some odd reason this post has become the target of spambots. I am therefore disabling comments on this post.\n<\/p>\n<p><!--39b809d641715968f52bf0ac1797f7f8--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CIBC has announced that CM.PR.B (Non-cumulative Class A Preferred Shares Series 24) will be redeemed at $26.00 on January 31, 2007. [Note: the link is to a cgi script. If not accessible, try here.] \u00a0Not &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-246","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/246","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=246"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/246\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}