{"id":8981,"date":"2009-12-08T20:22:27","date_gmt":"2009-12-09T00:22:27","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=8981"},"modified":"2009-12-08T20:22:27","modified_gmt":"2009-12-09T00:22:27","slug":"igmprb-opening-day-limp-and-lifeless","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=8981","title":{"rendered":"IGM.PR.B Opening Day Limp and Lifeless"},"content":{"rendered":"<p>Investors&#8217; Group <a href=\"http:\/\/www.marketwire.com\/press-release\/Igm-Financial-Inc-TSX-IGM-1087211.html\">has announced<\/a>:<\/p>\n<blockquote><p> the successful completion and closing of an offering of 5.90% Non-Cumulative First Preferred Shares, Series B (the &#8220;Series B Shares&#8221;), priced at $25.00 per share to raise gross proceeds of $150 million.<\/p>\n<p>The issue was bought by an underwriting group co-led by BMO Capital Markets and by RBC Capital Markets.<\/p>\n<p>The Series B Shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol &#8220;IGM.PR.B&#8221;. Proceeds from the issue will be used to supplement IGM Financial&#8217;s financial resources and for general corporate purposes.<\/p><\/blockquote>\n<p>Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>IGM.PR.B<\/td>\n<td>Perpetual-Discount<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-12-08<br \/>\nMaturity Price  : 24.30<br \/>\nEvaluated at bid price : 24.50<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>It still looks expensive to me! The issue was <a href=\"http:\/\/www.prefblog.com\/?p=8868\">announced on November 30<\/a>.<\/p>\n<p>IGM.PR.B will be tracked by HIMIPref&trade;. It has been assigned to the PerpetualDiscount index.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors&#8217; Group has announced: the successful completion and closing of an offering of 5.90% Non-Cumulative First Preferred Shares, Series B (the &#8220;Series B Shares&#8221;), priced at $25.00 per share to raise gross proceeds of $150 &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-8981","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8981","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=8981"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8981\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}