There was something of a mysterious announcement from DBRS today:
DBRS Limited (DBRS Morningstar) assigned a provisional rating of BBB (low) with a Stable trend to Brookfield Renewable Partners L.P.’s (BEP) up to USD 200 million Class A Preferred Limited Partnership Units (U.S.), Series 17 (the Series 17 Preferred Units).
Series 17 units aren’t mentioned on the company’s website or on Globe Newswire. Is there an announcement planned for the near future?
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.0454 % | 2,052.1 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.0454 % | 3,765.5 |
| Floater | 5.96 % | 6.13 % | 49,812 | 13.63 | 4 | -1.0454 % | 2,170.1 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0459 % | 3,491.3 |
| SplitShare | 4.75 % | 3.98 % | 42,079 | 3.65 | 6 | 0.0459 % | 4,169.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0459 % | 3,253.1 |
| Perpetual-Premium | 5.54 % | 0.22 % | 56,234 | 0.09 | 12 | 0.0459 % | 3,075.9 |
| Perpetual-Discount | 5.17 % | 5.20 % | 69,206 | 14.97 | 24 | -0.1743 % | 3,377.5 |
| FixedReset Disc | 5.49 % | 5.41 % | 172,273 | 14.75 | 64 | 0.0008 % | 2,184.0 |
| Deemed-Retractible | 5.08 % | 5.18 % | 73,718 | 14.93 | 27 | 0.0461 % | 3,289.5 |
| FloatingReset | 5.98 % | 6.06 % | 58,901 | 13.80 | 3 | 0.2183 % | 2,560.5 |
| FixedReset Prem | 5.07 % | 3.40 % | 135,089 | 1.42 | 22 | 0.0638 % | 2,663.4 |
| FixedReset Bank Non | 1.93 % | 3.44 % | 77,807 | 1.89 | 3 | -0.0949 % | 2,752.4 |
| FixedReset Ins Non | 5.31 % | 5.39 % | 104,531 | 14.66 | 22 | 0.2776 % | 2,208.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.K | Floater | -3.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 11.12 Evaluated at bid price : 11.12 Bid-YTW : 6.32 % |
| EMA.PR.E | Perpetual-Discount | -3.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 21.82 Evaluated at bid price : 21.82 Bid-YTW : 5.19 % |
| TRP.PR.B | FixedReset Disc | -1.80 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 11.44 Evaluated at bid price : 11.44 Bid-YTW : 5.89 % |
| BAM.PF.J | FixedReset Prem | -1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 23.40 Evaluated at bid price : 25.00 Bid-YTW : 4.72 % |
| EMA.PR.C | FixedReset Disc | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 18.20 Evaluated at bid price : 18.20 Bid-YTW : 5.78 % |
| HSE.PR.C | FixedReset Disc | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 6.65 % |
| EMA.PR.F | FixedReset Disc | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 17.93 Evaluated at bid price : 17.93 Bid-YTW : 5.71 % |
| BIK.PR.A | FixedReset Prem | 1.11 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2024-03-31 Maturity Price : 25.00 Evaluated at bid price : 26.42 Bid-YTW : 4.57 % |
| TRP.PR.E | FixedReset Disc | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 16.58 Evaluated at bid price : 16.58 Bid-YTW : 5.70 % |
| MFC.PR.M | FixedReset Ins Non | 1.80 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 5.28 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.E | FixedReset Disc | 84,967 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 5.38 % |
| PVS.PR.D | SplitShare | 84,500 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2021-10-08 Maturity Price : 25.00 Evaluated at bid price : 25.33 Bid-YTW : 3.55 % |
| BNS.PR.Z | FixedReset Bank Non | 73,625 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.51 Bid-YTW : 3.53 % |
| TD.PF.A | FixedReset Disc | 69,122 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 17.45 Evaluated at bid price : 17.45 Bid-YTW : 5.25 % |
| IFC.PR.I | Perpetual-Premium | 65,240 | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.17 Bid-YTW : 5.34 % |
| BIP.PR.F | FixedReset Disc | 59,615 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-20 Maturity Price : 22.25 Evaluated at bid price : 22.83 Bid-YTW : 5.64 % |
| There were 30 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.K | FixedReset Ins Non | Quote: 18.15 – 19.00 Spot Rate : 0.8500 Average : 0.4639 YTW SCENARIO |
| MFC.PR.F | FixedReset Ins Non | Quote: 12.70 – 13.46 Spot Rate : 0.7600 Average : 0.4850 YTW SCENARIO |
| BAM.PF.J | FixedReset Prem | Quote: 25.00 – 25.40 Spot Rate : 0.4000 Average : 0.2361 YTW SCENARIO |
| BAM.PR.K | Floater | Quote: 11.12 – 11.61 Spot Rate : 0.4900 Average : 0.3423 YTW SCENARIO |
| CU.PR.G | Perpetual-Discount | Quote: 22.00 – 22.50 Spot Rate : 0.5000 Average : 0.3562 YTW SCENARIO |
| TRP.PR.B | FixedReset Disc | Quote: 11.44 – 12.00 Spot Rate : 0.5600 Average : 0.4262 YTW SCENARIO |
RE: mysterious announcement from DBRS about BEP.
It’s U.S. SEC registered:
https://www.sec.gov/Archives/edgar/data/1533232/000119312520042076/0001193125-20-042076-index.htm
Canadian backer, Bermudian partnership, US$ and US SEC registered. Assets all over the world. Simple.
It’s U.S. SEC registered:
https://www.sec.gov/Archives/edgar/data/1533232/000119312520042076/0001193125-20-042076-index.htm
Good catch. I still find it odd that I can’t find anything about it on the company website, on Global newswire or through a brute-force internet search.