{"id":52627,"date":"2026-09-24T22:45:34","date_gmt":"2026-09-25T02:45:34","guid":{"rendered":"https:\/\/prefblog.com\/?p=52627"},"modified":"2026-09-24T22:51:47","modified_gmt":"2026-09-25T02:51:47","slug":"bpo-pr-r-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52627","title":{"rendered":"BPO.PR.R : No Conversion to FloatingReset"},"content":{"rendered":"

Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners L.P., has announced<\/a>:<\/p>\n

that after having taken into account all election notices received by the deadline for the conversion of the Class AAA Preference Shares, Series R (the \u201cSeries R Shares\u201d) (TSX: BPO.PR.R) into Class AAA Preference Shares, Series S (the \u201cSeries S Shares\u201d), the holders of Series R Shares are not entitled to convert their Series R Shares into Series S Shares. There were 24,640 Series R Shares tendered for conversion, which is less than the one million shares required to give effect to conversions into Series S Shares.<\/p>\n

The Series R Shares will pay on a quarterly basis, for the five-year period beginning on October 1, 2026, as and when declared by the board of directors of Brookfield, a fixed dividend based on an annual dividend rate of 6.829% (C$0.4268125 per share per quarter).<\/p><\/blockquote>\n

BPO.PR.R was issued as a 5.10%+348 FixedReset that commenced trading 2011-9-2<\/a> after being announced 2011-8-25<\/a>. The issue reset to 4.155%<\/a> in 2016 and there was an 11% conversion to the FloatingReset<\/a> BPO.PR.S. BPO.PR.R reset to 4.30%<\/a> in 2021 and the FloatingResets were forcibly converted<\/a> to the FixedResets. The issue reset to 6.829% in 2026<\/a>; unusually – perhaps uniquely – the conversion election period was extended<\/a> from the period originally announced. <\/p>\n","protected":false},"excerpt":{"rendered":"

Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners L.P., has announced: that after having taken into account all election notices received by the deadline for the conversion of the Class AAA Preference Shares, …<\/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-52627","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52627","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=52627"}],"version-history":[{"count":2,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52627\/revisions"}],"predecessor-version":[{"id":52629,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52627\/revisions\/52629"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}