{"id":44067,"date":"2022-08-25T20:07:03","date_gmt":"2022-08-26T01:07:03","guid":{"rendered":"https:\/\/prefblog.com\/?p=44067"},"modified":"2022-08-25T20:07:03","modified_gmt":"2022-08-26T01:07:03","slug":"ax-pr-a-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44067","title":{"rendered":"AX.PR.A To Be Redeemed"},"content":{"rendered":"<p>Artis Real Estate Investment Trust <a href=\"https:\/\/arwebstore.blob.core.windows.net\/artisreit-com\/2022\/08\/Artis_News_082422.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that it has delivered formal notice to the registered holder(s) of its Preferred Units, Series A (the \u201cSeries A Units\u201d) that, on September 30, 2022, the REIT will redeem all of the 3,248,300 outstanding Series A Units at a price of $25.353875 (the \u201cRedemption Price\u201d) for each Series A Unit, being $25.00 plus $0.353875 in accrued and unpaid distributions thereon up to but excluding September 30, 2022, less any taxes required to be deducted and withheld by Artis.<\/p>\n<p>After September 30, 2022, the Series A Units will cease to be entitled to distributions and the only remaining rights of holders of such units will be to receive payment of the redemption amount.<\/p><\/blockquote>\n<p>AX.PR.A was <a href=\"https:\/\/prefblog.com\/?p=19399\">announced 2012-7-24<\/a> as a FixedReset, 5.25%+406, with complex taxation nature of the distributions. It <a href=\"https:\/\/prefblog.com\/?p=21243\">became rated in March, 2013<\/a>, and was then added to the HIMIPref\u2122 universe. It <a href=\"https:\/\/prefblog.com\/?p=35390\">reset to 5.662%<\/a> in 2017; I <a href=\"https:\/\/prefblog.com\/?p=35428\">recommended against conversion<\/a>; and <a href=\"https:\/\/prefblog.com\/?p=35477\">there was no conversion<\/a>.<\/p>\n<p>Thanks to Assiduous Reader <i>Philip169382<\/i> for <a href=\"https:\/\/prefblog.com\/?p=44063#comment-203002\">bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Artis Real Estate Investment Trust has announced: that it has delivered formal notice to the registered holder(s) of its Preferred Units, Series A (the \u201cSeries A Units\u201d) that, on September 30, 2022, the REIT will &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-44067","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44067","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=44067"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44067\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}