{"id":48263,"date":"2017-03-01T22:15:00","date_gmt":"2017-03-02T03:15:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48263"},"modified":"2025-07-15T22:17:27","modified_gmt":"2025-07-16T02:17:27","slug":"bpo-pr-k-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48263","title":{"rendered":"BPO.PR.K To Be Redeemed"},"content":{"rendered":"<p> Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners L.P., <a href=\"http:\/\/www.bpoinvestor.com\/investors\/news\/2017\/28-02-2017\">has announced<\/a>:<\/p>\n<blockquote><p> that it intends to: &#8230; Redeem all 5,909,250 of its outstanding Class AAA Preference Shares, Series K (TSX: BPO.PR.K) (the \u201cSeries K Shares\u201d), all of which are beneficially held by CDS &#038; Co., as nominee of CDS Clearing and Depositary Services Inc., for cash on March 31, 2017. The redemption price for each such share will be C$25.00 plus accrued and unpaid dividends thereon (which as of March 31, 2017 will be C$0), representing a total redemption price of C$25.00. <\/p>\n<p>Notices of Redemption for both series have been sent to CDS &#038; Co. Payment of the redemption price will be made on or after March 31, 2017 through the facilities of CDS &#038; Co. to &#8230; all beneficial holders of the Series K Shares.<\/p>\n<\/blockquote>\n<p>BPO.PR.K is a 5.20% Retractible, issued 2004-10-22. It became retractible for shares on 2016-12-31. There was a <a href=\"http:\/\/prefblog.com\/?p=25563\">partial exchange of BPO.PR.K for BPS.PR.C in 2014<\/a>; BPS is Brookfield Property Split Corp. <\/p>\n<p>So anyway, now we know what the company meant in its <a href=\"http:\/\/prefblog.com\/?p=34309\">press release announcing<\/a> the issue <a href=\"http:\/\/prefblog.com\/?p=34354\">currently trading as BPO.PR.E<\/a>. <a href=\"http:\/\/prefblog.com\/?p=34309#comment-194253\">Good catch by Assiduous Reader <i>mbarbon<\/i><\/a> in highlighting their sentence:<\/p>\n<blockquote><p>The net proceeds of the issue will be used by Brookfield Office Properties for general corporate purposes which may include the redemption of existing preferred shares.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners L.P., has announced: that it intends to: &#8230; Redeem all 5,909,250 of its outstanding Class AAA Preference Shares, Series K (TSX: BPO.PR.K) (the \u201cSeries K &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-48263","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48263","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=48263"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48263\/revisions"}],"predecessor-version":[{"id":48264,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48263\/revisions\/48264"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}