{"id":43178,"date":"2022-03-24T20:23:24","date_gmt":"2022-03-25T01:23:24","guid":{"rendered":"https:\/\/prefblog.com\/?p=43178"},"modified":"2022-03-24T20:23:24","modified_gmt":"2022-03-25T01:23:24","slug":"bpo-pr-e-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43178","title":{"rendered":"BPO.PR.E : No Conversion to FloatingReset"},"content":{"rendered":"<p>Brookfield Office Properties Inc. (\u201cBrookfield\u201d), a subsidiary of Brookfield Property Partners L.P., <a href=\"https:\/\/bpy.brookfield.com\/press-releases\/bpo\/brookfield-office-properties-provides-update-conversion-option-its-class-aaa-0\">has announced<\/a>:<\/p>\n<blockquote><p>that after having taken into account all election notices received by the March 15, 2022 deadline for the conversion of the Class AAA Preference Shares, Series EE (the \u201cSeries EE Shares\u201d) (TSX: BPO.PR.E) into Class AAA Preference Shares, Series FF (the \u201cSeries FF Shares\u201d), the holders of Series EE Shares are not entitled to convert their Series EE Shares into Series FF Shares. There were 122,460 Series EE Shares tendered for conversion, which is less than the one million shares required to give effect to conversions into Series FF Shares.<\/p>\n<p>The Series EE Shares will pay on a quarterly basis, for the five-year period beginning on April 1, 2022, as and when declared by the board of directors of Brookfield, a fixed dividend based on an annual dividend rate of 5.496% ($0.3435 per share per quarter).<\/p><\/blockquote>\n<p>BPO.PR.E was issued as a FixedReset, 5.10%+396M510, that <a href=\"https:\/\/prefblog.com\/?p=34354\">commenced trading 2017-2-17<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=34309\">announced 2017-2-9<\/a>. It is tracked by HIMIPref\u2122 but relegated to the Scraps index on credit concerns. The issue <a href=\"https:\/\/prefblog.com\/?p=43073\">reset to 5.496%<\/a> in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Office Properties Inc. (\u201cBrookfield\u201d), a subsidiary of Brookfield Property Partners L.P., has announced: that after having taken into account all election notices received by the March 15, 2022 deadline for the conversion of the &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-43178","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43178","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=43178"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43178\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}