{"id":41385,"date":"2020-09-23T00:31:44","date_gmt":"2020-09-23T05:31:44","guid":{"rendered":"http:\/\/prefblog.com\/?p=41385"},"modified":"2020-09-23T00:31:44","modified_gmt":"2020-09-23T05:31:44","slug":"september-22-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41385","title":{"rendered":"September 22, 2020"},"content":{"rendered":"

CU Inc has announced<\/a>:<\/p>\n

that it will issue $150,000,000 of 2.609% Debentures maturing on September 28, 2050, at a price of $100.00 to yield 2.609%. This issue was sold by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., Scotia Capital Inc., CIBC World Markets Inc. and MUFG Securities (Canada), Ltd. Proceeds from the issue will be used to finance capital expenditures, to repay existing indebtedness, and for other general corporate purposes.<\/p><\/blockquote>\n

At the close of 2020-9-21, CIU.PR.A (a Straight Perpetual) was quoted at 22.80-00 to yield 5.08-02%. At the standard equivalency factor of 1.3x, the bid-yield was equivalent to 6.60% interest; the Seniority Spread for this issue pair is therefore 399bp, compared to the 400bp measured on an index-to-index basis on September 16<\/a>.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2422 %<\/td>\n1,642.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2422 %<\/td>\n3,014.1<\/td>\n<\/tr>\n
Floater<\/td>\n5.18 %<\/td>\n5.19 %<\/td>\n55,936<\/td>\n15.18<\/td>\n3<\/td>\n0.2422 %<\/td>\n1,737.0<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1635 %<\/td>\n3,540.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.80 %<\/td>\n4.35 %<\/td>\n41,752<\/td>\n3.63<\/td>\n7<\/td>\n-0.1635 %<\/td>\n4,228.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1635 %<\/td>\n3,299.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.35 %<\/td>\n4.88 %<\/td>\n80,299<\/td>\n3.92<\/td>\n17<\/td>\n0.1212 %<\/td>\n3,122.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.23 %<\/td>\n5.28 %<\/td>\n92,881<\/td>\n14.91<\/td>\n17<\/td>\n0.1961 %<\/td>\n3,505.1<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.47 %<\/td>\n4.25 %<\/td>\n128,704<\/td>\n16.26<\/td>\n68<\/td>\n0.3235 %<\/td>\n2,088.2<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.02 %<\/td>\n4.91 %<\/td>\n114,183<\/td>\n15.17<\/td>\n27<\/td>\n0.2603 %<\/td>\n3,452.3<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.86 %<\/td>\n2.98 %<\/td>\n45,272<\/td>\n1.33<\/td>\n3<\/td>\n-0.1571 %<\/td>\n1,794.1<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.26 %<\/td>\n4.51 %<\/td>\n252,444<\/td>\n0.87<\/td>\n11<\/td>\n0.1979 %<\/td>\n2,617.8<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.95 %<\/td>\n2.58 %<\/td>\n122,122<\/td>\n1.33<\/td>\n2<\/td>\n0.2225 %<\/td>\n2,837.7<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.73 %<\/td>\n4.44 %<\/td>\n85,665<\/td>\n16.25<\/td>\n22<\/td>\n-0.1448 %<\/td>\n2,108.9<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-4.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 10.15
\nEvaluated at bid price : 10.15
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-2.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 9.72
\nEvaluated at bid price : 9.72
\nBid-YTW : 4.29 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n
BIP.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 22.81
\nEvaluated at bid price : 23.35
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n
BIP.PR.B<\/td>\nFixedReset Disc<\/td>\n-1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 22.96
\nEvaluated at bid price : 23.90
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
NA.PR.G<\/td>\nFixedReset Disc<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 19.77
\nEvaluated at bid price : 19.77
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n
BMO.PR.Z<\/td>\nPerpetual-Premium<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2023-08-25
\nMaturity Price : 25.25
\nEvaluated at bid price : 25.40
\nBid-YTW : 4.91 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 19.48
\nEvaluated at bid price : 19.48
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 22.41
\nEvaluated at bid price : 22.80
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 17.72
\nEvaluated at bid price : 17.72
\nBid-YTW : 4.13 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 10.33
\nEvaluated at bid price : 10.33
\nBid-YTW : 4.99 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nDeemed-Retractible<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.01
\nBid-YTW : 5.22 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 4.45 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 16.26
\nEvaluated at bid price : 16.26
\nBid-YTW : 4.57 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 15.35
\nEvaluated at bid price : 15.35
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 16.68
\nEvaluated at bid price : 16.68
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 8.91
\nEvaluated at bid price : 8.91
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n1.94 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 23.39
\nEvaluated at bid price : 23.70
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
BIK.PR.A<\/td>\nFixedReset Disc<\/td>\n2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 23.32
\nEvaluated at bid price : 25.05
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n3.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 4.04 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n10.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 18.08
\nEvaluated at bid price : 18.08
\nBid-YTW : 3.93 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
W.PR.K<\/td>\nFixedReset Disc<\/td>\n42,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 24.36
\nEvaluated at bid price : 25.00
\nBid-YTW : 5.32 %<\/td>\n<\/tr>\n
BIP.PR.C<\/td>\nFixedReset Disc<\/td>\n38,850<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 22.81
\nEvaluated at bid price : 23.35
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n35,483<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 22.71
\nEvaluated at bid price : 22.95
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n31,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 24.67
\nEvaluated at bid price : 24.93
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n
PWF.PR.I<\/td>\nPerpetual-Premium<\/td>\n25,300<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-10-22
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.32
\nBid-YTW : 1.00 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset Disc<\/td>\n23,353<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 22.41
\nEvaluated at bid price : 22.80
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
There were 16 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\nQuote: 16.51 – 23.99
\nSpot Rate : 7.4800
\nAverage : 4.0919<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 16.51
\nEvaluated at bid price : 16.51
\nBid-YTW : 4.60 %<\/td>\n<\/tr>\n

BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\nQuote: 18.63 – 20.00
\nSpot Rate : 1.3700
\nAverage : 0.8589<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 18.63
\nEvaluated at bid price : 18.63
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n

EIT.PR.B<\/td>\nSplitShare<\/td>\nQuote: 25.50 – 26.50
\nSpot Rate : 1.0000
\nAverage : 0.7371<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2025-03-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n

SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 10.15 – 10.75
\nSpot Rate : 0.6000
\nAverage : 0.3910<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 10.15
\nEvaluated at bid price : 10.15
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n

BAM.PF.H<\/td>\nFixedReset Disc<\/td>\nQuote: 24.25 – 24.75
\nSpot Rate : 0.5000
\nAverage : 0.3193<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 23.31
\nEvaluated at bid price : 24.25
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n

GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\nQuote: 9.72 – 10.39
\nSpot Rate : 0.6700
\nAverage : 0.5111<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-09-22
\nMaturity Price : 9.72
\nEvaluated at bid price : 9.72
\nBid-YTW : 4.29 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

CU Inc has announced: that it will issue $150,000,000 of 2.609% Debentures maturing on September 28, 2050, at a price of $100.00 to yield 2.609%. This issue was sold by BMO Nesbitt Burns Inc., RBC …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-41385","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41385","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=41385"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41385\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}