{"id":3508,"date":"2008-10-21T17:52:49","date_gmt":"2008-10-21T21:52:49","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=3508"},"modified":"2008-10-21T17:52:49","modified_gmt":"2008-10-21T21:52:49","slug":"ffnpra-ftnpra-we-have-nothing-to-fear-but-fear-itself","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=3508","title":{"rendered":"FFN.PR.A &amp; FTN.PR.A : We Have Nothing to Fear but Fear Itself"},"content":{"rendered":"<p>Continuing their <a href=\"http:\/\/www.prefblog.com\/?p=3431\">plea for calm last week<\/a> Quadravest has begged holders of FTN &#038; FFN not to panic &#8211; please, don&#8217;t panic! we implore you not to panic!:<\/p>\n<blockquote><p>Fueled by the intensification of the ongoing credit crisis, world financial markets reached a level of \u201cpanic\u201d during the last several weeks which arguably has never been seen by investors on such a global scale. Several of the largest financial institutions in the United States and around the world required unprecedented government intervention in order to rescue them from complete insolvency.<br \/><b>&#8230;<\/b><br \/>The impact of the broad based selling has adversely impacted the portfolios of Financial 15 Split Corp. (\u201cFinancial 15\u201d) and Financial 15 Split Corp. II (\u201cFinancial 15 II\u201d). The net asset values have declined by approximately 15% from August 31, 2008 to October 15, 2008.<\/p><\/blockquote>\n<p>Asset coverage of the preferred shares remains OK: 1.9+:1 for FTN.PR.A and just under 1.6:1 for FFN.PR.A according to <a href=\"http:\/\/www.financial15.com\/valuations.html\">the company<\/a>. But the capital unitholders are certainly feeling some pain:<\/p>\n<div align=\"center\"><a href=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2008\/10\/ffn_ftn_perf.gif\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2008\/10\/ffn_ftn_perf-300x173.gif\" alt=\"\" title=\"ffn_ftn_perf\" width=\"300\" height=\"173\" class=\"alignnone size-medium wp-image-3509\" \/><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Continuing their plea for calm last week Quadravest has begged holders of FTN &#038; FFN not to panic &#8211; please, don&#8217;t panic! we implore you not to panic!: Fueled by the intensification of the ongoing &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-3508","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3508","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=3508"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3508\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}