{"id":48902,"date":"2017-11-01T20:08:00","date_gmt":"2017-11-02T00:08:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48902"},"modified":"2025-07-30T20:10:18","modified_gmt":"2025-07-31T00:10:18","slug":"bce-pr-z-bce-pr-y-conversion-notice-sent","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48902","title":{"rendered":"BCE.PR.Z \/ BCE.PR.Y Conversion Notice Sent"},"content":{"rendered":"<p>BCE Inc. <a href=\"http:\/\/bce.ca\/investors\/preferredshares#box3\">has released<\/a> the <a href=\"http:\/\/bce.ca\/investors\/preferred-shares\/2017-conversion-notice-z-series.pdf\">conversion notice for BCE.PR.Z<\/a> (Fixed-Floater) and a matching <a href=\"http:\/\/bce.ca\/investors\/preferred-shares\/2017-conversion-notice-y-series.pdf\">notice for BCE.PR.Y<\/a> (Ratchet Rate).<\/p>\n<p>These issues constitute a <a href=\"http:\/\/www.prefblog.com\/?p=1378\">Strong Pair<\/a>.<\/p>\n<p>The effective date of the interconversion is 2017-12-1. The deadline for instructing the company to convert shares is 5:00 p.m. (Eastern time) on November 17, 2017 &#8211; but note that brokers serving the public will probably have internal deadlines a day or two in advance of this. The new dividend rate on BCE.PR.Z will be published 2017-11-14.<\/p>\n<p>The outstanding shares of BCE.PR.Z have <a href=\"https:\/\/prefblog.com\/?p=20270\">paid 3.152%<\/a> since the last conversion in 2012. <a href=\"https:\/\/prefblog.com\/?p=12147\">Prime was at 3.00% when the last conversion was effective<\/a> &#8230; just <a href=\"https:\/\/prefblog.com\/?p=35410\">20bp lower than the current rate<\/a>!<\/p>\n<p>These shares are trading at very nearly the same price &#8230; alas, there isn&#8217;t much of an arbitrage possibility here!<\/p>\n<p>I will post more when the fixed rate (for the next five years) is known.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BCE Inc. has released the conversion notice for BCE.PR.Z (Fixed-Floater) and a matching notice for BCE.PR.Y (Ratchet Rate). These issues constitute a Strong Pair. The effective date of the interconversion is 2017-12-1. The deadline for &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-48902","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48902","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=48902"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48902\/revisions"}],"predecessor-version":[{"id":48903,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48902\/revisions\/48903"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}