{"id":6676,"date":"2009-05-27T14:44:15","date_gmt":"2009-05-27T18:44:15","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=6676"},"modified":"2009-05-27T14:44:15","modified_gmt":"2009-05-27T18:44:15","slug":"new-issue-bam-fixedreset-700445","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=6676","title":{"rendered":"New Issue: BAM FixedReset 7.00%+445"},"content":{"rendered":"<p>Issue: Brookfield Asset Management Cumulative 5-Year Rate Reset Preference Shares, Series 22<\/p>\n<p>Size: 5-million shares (=$125-million) + greenshoe 1-million shares (=$25-million)<\/p>\n<p>Dividend: 7.00% (= $1.75) until First Reset Date. First Dividend $0.56575 payable September 30. Resets to 5-Year Canadas + 445bp every Reset Date. Cumulative dividend.<\/p>\n<p>Convertible: Every Reset Date into Floaters, pay 3-month bills +445, reset quarterly.<\/p>\n<p>Redeemable: Every Reset Date at Par. Floaters are also redeemable any time at 25.50.<\/p>\n<p>Reset Dates: 2014-9-30 and every five years thereafter.<\/p>\n<p>Closing: June 4<\/p>\n<p>It&#8217;s good to see a BAM Fixed-Reset &#8230; it helps with calibrating between classes!<\/p>\n<p><b>Updated<\/b>: Brookfield has issued a <a href=\"http:\/\/www.brookfield.com\/content\/2009_press_releases\/brookfield_to_issue_c125_million_of_preferred_sha-1116.html\">press release<\/a>.<\/p>\n<p>I am advised that the issue size has been increased to 10-million shares (=$250-million) plus a greenshoe of 2-million shares (=$50-million).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Issue: Brookfield Asset Management Cumulative 5-Year Rate Reset Preference Shares, Series 22 Size: 5-million shares (=$125-million) + greenshoe 1-million shares (=$25-million) Dividend: 7.00% (= $1.75) until First Reset Date. First Dividend $0.56575 payable September 30. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-6676","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6676","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=6676"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6676\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}