BAM.PF.B : No Conversion To FloatingReset

Mar 21 01:03 2019 Print This Article

Brookfield Asset Management Inc. has announced:

that after having taken into account all election notices received by the March 18, 2019 deadline for the conversion of its Cumulative Class A Preference Shares, Series 34 (the “Series 34 Shares”) (TSX: BAM.PF.B) into Cumulative Class A Preference Shares, Series 35 (the “Series 35 Shares”), there were 53,649 Series 34 Shares tendered for conversion, which is less than the one million shares required to give effect to conversions into Series 35 Shares. Accordingly, there will be no conversion of Series 34 Shares into Series 35 Shares.

BAM.PF.B is a FixedReset, 4.20%+263, that commenced trading 2012-9-12 after being announced 2012-8-23. I recommended against conversion. The issue is tracked by HIMIPref™ and assigned to the FixedReset (Discount) sub-index.

Read More

About Article Author

PrefBlog

PrefBlog is presented as a public service by Hymas Investment Management Inc., Manager / Trustee of Malachite Aggressive Preferred Fundand publisher of PrefLetter, a monthly newsletter directed towards long term buy-and-hold retail investors. James Hymas, president of Hymas Investment Management Inc, with years of experience designing quantitative investment technology and applying this technology to conservative portfolios, seeks to provide institutions and retail investors with the information and advice necessary to produce top quartile returns in the preferred share market without the assumption of excess risk.

Related Items

Meridian Capital International Fund Purchases Units of Petrotal Corp.

HONG KONG, June 19, 2020 /CNW/ – Meridian Capital International Fund (“Meridian“) announced that on June 18, 2020 it acquired 75,000,000 units of PetroTal Corp. (“PetroTal“) (TSXV: TAL) (AIM: PTAL) by way of a private placement at a price of 10p (approximately C$0.17) per unit, for total ...

Here are some tips on how to find a best portfolio pick. Some of them might surprise you

Your best portfolio pick will almost always come from a high-quality stock with a history of paying dividends Investing is relative, not absolute. It’s an art, not a science. Every stock offers a balance of risk and potential reward. Above all, you’ll want to make sure that your best portfolio ...

Delphi Energy Corp. Provides Update on Continuous Disclosure Filings

CALGARY, Alberta, June 19, 2020 (GLOBE NEWSWIRE) — As previously announced by Delphi Energy Corp. (“Delphi” or the “Company”), the Company is relying on exemptive relief granted by Canadian securities regulatory authorities that allows it to delay the filing of its interim fi ...

Middle East crude benchmarks provide lessons on valuing oil in volatile markets

The crude oil market has witnessed some of the highest volatility in living memory in recent months, casting a spotlight on the evolving role of global crude benchmarks. In the Middle East and key consuming regions such as Asia, it follows that the market is keen to understand what the tradable val ...

Insight Conversation: Marco Dunand, CEO and co-founder, Mercuria

Mercuria’s Marco Dunand talked to S&P Global Platts about the challenges, implications, and opportunities that the coronavirus pandemic presents across all the key commodity classes in a time of unprecedented volatility in the global markets. Founded in 2004, Mercuria Energy Trading is one of th ...

Retail Sales increased 17.7% in May

On a monthly basis, retail sales increased 17.7 percent from April to May (seasonally adjusted), and sales were down 6.1 percent from May 2019.From the Census Bureau report:Advance estimates of U.S. retail and food services sales for May 2020, adjusted for seasonal variation and holiday and trading- ...

Enerplus Announces Cash Dividend for July 2020

CALGARY, AB, June 19, 2020 /CNW/ – Enerplus Corporation (“Enerplus”) (TSX: ERF) & (NYSE: ERF) announces that a cash dividend in the amount of CDN$0.01 per share will be payable on July 15, 2020 to all shareholders of record at the close of business on June 30, 2020. The ex-dividend date for ...

Tamarack Valley Energy Ltd. Announces Completion of Credit Facility Redetermination

TSX: TVE CALGARY, AB, June 18, 2020 /CNW/ – Tamarack Valley Energy (“Tamarack” or the “Company”) (TSX: TVE) is pleased to announce that our bank syndicated credit facility has been redetermined at $275 million, of which the company was drawn approximately $209 million as of June 18th, 20 ...

Weekly Initial Unemployment Claims decrease to 1,508,000

The DOL reported:In the week ending June 13, the advance figure for seasonally adjusted initial claims was 1,508,000, a decrease of 58,000 from the previous week's revised level. The previous week's level was revised up by 24,000 from 1,542,000 to 1,566,000. The 4-week moving average was 1,773,500, ...