{"id":43191,"date":"2022-03-27T18:16:54","date_gmt":"2022-03-27T23:16:54","guid":{"rendered":"https:\/\/prefblog.com\/?p=43191"},"modified":"2022-03-27T18:16:54","modified_gmt":"2022-03-27T23:16:54","slug":"pvs-pr-k-soft-on-moderate-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43191","title":{"rendered":"PVS.PR.K Soft on Moderate Volume"},"content":{"rendered":"<p>Partners Value Split Corp. <a href=\"https:\/\/www.partnersvaluesplit.com\/~\/media\/Files\/P\/Partners-Value\/press-releases\/2022\/Press%20Release%20-%20Closing%20Series%2013%20002.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>the completion of its previously announced issue of 6,000,000 Class AA Preferred Shares, Series 13 (the \u201cSeries 13 Preferred Shares\u201d) at an offering price of $25.00 per Series 13 Preferred Share, raising gross proceeds of $150,000,000. The Series 13 Preferred Shares carry quarterly fixed cumulative preferential dividends representing a 4.45% annualized yield on the offering price and have a final maturity of May 31, 2029. The Series 13 Preferred Shares have been listed and posted for trading on the Toronto Stock Exchange under the symbol PVS.PR.K. The net proceeds of the offering will be used by the Company to pay a special dividend on the Company\u2019s capital shares.<\/p>\n<p>Prior to the closing of the offering, the Company subdivided the existing capital shares held by Partners Value Investments Inc. so that there are an equal number of preferred shares and capital shares outstanding.<\/p><\/blockquote>\n<p>PVS.PR.K is a SplitShare, 4.45%, 7-year issue <a href=\"https:\/\/prefblog.com\/?p=43145\">announced 2022-3-17<\/a>. It will be tracked by HIMIPref\u2122 and has been added to the SplitShare subindex. Neither the press release nor anything on SEDAR mentions their <a href=\"https:\/\/prefblog.com\/?p=43155\">screw-up with the definition of the &#8216;Series 13 Redemption Date&#8217;<\/a>, let alone clarifying the issue. Naturally, given the uselessness of the company administration, my &#8216;phone call asking for clarification has not been returned.<\/p>\n<p>The issue traded 329,875 shares in a range of 24.80-91 before closing at 24.80-85. Vital Statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tbody>\n<tr>\n<td>PVS.PR.K<\/td>\n<td>SplitShare<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2029-05-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.80<br \/>\nBid-YTW : 4.60 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Partners Value Split Corp. has announced: the completion of its previously announced issue of 6,000,000 Class AA Preferred Shares, Series 13 (the \u201cSeries 13 Preferred Shares\u201d) at an offering price of $25.00 per Series 13 &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-43191","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43191","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=43191"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43191\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}