{"id":47717,"date":"2024-12-11T22:51:03","date_gmt":"2024-12-12T03:51:03","guid":{"rendered":"https:\/\/prefblog.com\/?p=47717"},"modified":"2024-12-11T22:51:03","modified_gmt":"2024-12-12T03:51:03","slug":"redemption-new-issue-data","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47717","title":{"rendered":"Redemption & New Issue Data"},"content":{"rendered":"

A recent post prompted an interesting discussion in which Assiduous Reader RAV4guy<\/i> told us<\/a>:<\/p>\n

Since RBC announced in August 2020 the redemption of 6 preferred issues with a par value of $1.5 billion I have kept a log of the ongoing redemptions and new issues by all issuers.<\/p>\n

The announced redemption of FFH.PR.C\/D is the 100th issue to have its redemption announced. The par value of these 100 redemptions is $28.077 billion.<\/p>\n

Since August 2020 there have been 12 new issues and their par value is $2.022 billion. These new issues are:<\/p>\n

4 Split Share: PVS.PR.I, PVS.PR.J, PVS.PR.K and PVS.PR.L
\n1 FRR with a floor: EMA.PR.J
\n7 Perpetuals: MIC.PR.A, EMA.PR.L, GWO.PR.Y, PWF.PR.A, CU.PR.J, IFC.PR.K and BEP.PR.R<\/p>\n

The last two issues were BEP.PR.R in April 2022 and then PVS.PR.L in September 2024. No operating companies have issued preferred shares in over 2.5 years.<\/p><\/blockquote>\n

We all know that redemptions have greatly exceeded new issues over the past few years, but it’s breathtaking to see the numbers quantified!<\/p>\n

RAV4guy<\/i> has very kindly made his spreadsheet available to us, with technical assistance from Assiduous Reader FletcherLynd<\/i> Here it is, in two formats:<\/p>\n