http://www.prefblog.com/?p=543 Canadian Preferred Shares - Data and Discussion Thu, 09 Sep 2010 21:31:51 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.prefblog.com/?p=543&cpage=1#comment-76166 PWF.PR.J to be Redeemed « PrefBlog Mon, 28 Jun 2010 18:04:47 +0000 http://www.prefblog.com/?p=543#comment-76166 [...] PWF.PR.J commenced trading in March, 2003, and was scheduled to become callable at par commencing 2012-4-30. It was last mentioned on PrefBlog in early 2007, after GWO bought Putnam. [...] [...] PWF.PR.J commenced trading in March, 2003, and was scheduled to become callable at par commencing 2012-4-30. It was last mentioned on PrefBlog in early 2007, after GWO bought Putnam. [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-26475 PrefBlog » Blog Archive » DBRS Affirms GWO Ratings After Lengthy Review Fri, 16 May 2008 19:02:33 +0000 http://www.prefblog.com/?p=543#comment-26475 [...] The financing of the Putnam purchase has been previously discussed, as was the DBRS response to the purchase itself. [...] [...] The financing of the Putnam purchase has been previously discussed, as was the DBRS response to the purchase itself. [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-11556 PrefBlog » Blog Archive » February 28, 2007 Fri, 15 Feb 2008 03:23:18 +0000 http://www.prefblog.com/?p=543#comment-11556 [...] Another issue reliant on the idea that GWO has better things to do with their money than call issued stock! Now with a pre-tax bid-YTW of -27.12% based on a bid of $26.63 and an immediate call at $26.00. It’s really a question of how long the game will last … to get a yield of 3.46%, you have to bet that there will be no call until 2009-1-30 at $25.50. There are a lot of people willing to make that bet, it seems! The issue was a stellar performer in February, with a total return of +2.5451% month/month bid/bid. [...] [...] Another issue reliant on the idea that GWO has better things to do with their money than call issued stock! Now with a pre-tax bid-YTW of -27.12% based on a bid of $26.63 and an immediate call at $26.00. It’s really a question of how long the game will last … to get a yield of 3.46%, you have to bet that there will be no call until 2009-1-30 at $25.50. There are a lot of people willing to make that bet, it seems! The issue was a stellar performer in February, with a total return of +2.5451% month/month bid/bid. [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-1662 PrefBlog » Blog Archive » CL.PR.B : YTW Returns to Positive Territory! Thu, 26 Apr 2007 03:33:01 +0000 http://www.prefblog.com/?p=543#comment-1662 [...] Even four months after I expected them to be redeemed, I am still a little confused, since paying 1.5625 on a perp when new perps are paying 1.125 - and I can’t see a GWO issue having to pay more that 1.30, no matter how sick the Street is of seeing the name - doesn’t make a lot of sense to me. However, as I have mentioned numerous times, the purchase of Putnam still needs to be financed and maybe they’re just delaying a little until they’ve got all that stuff squared away. [...] [...] Even four months after I expected them to be redeemed, I am still a little confused, since paying 1.5625 on a perp when new perps are paying 1.125 – and I can’t see a GWO issue having to pay more that 1.30, no matter how sick the Street is of seeing the name – doesn’t make a lot of sense to me. However, as I have mentioned numerous times, the purchase of Putnam still needs to be financed and maybe they’re just delaying a little until they’ve got all that stuff squared away. [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-1323 PrefBlog » Blog Archive » March 23, 2007 Sat, 24 Mar 2007 03:59:45 +0000 http://www.prefblog.com/?p=543#comment-1323 [...] Desjardins crossed 58,000 at 27.65, in a blatant attempt to capture the coveted “Biggest trades is low-yielding securities” tropy for March. Now with a pre-tax bid-YTW of 2.14% based on a bid of $27.60 and a call 2009-10-30 at $26.00. This is an interesting issue, with the issuer bid and Putnam financing to be considered. [...] [...] Desjardins crossed 58,000 at 27.65, in a blatant attempt to capture the coveted “Biggest trades is low-yielding securities” tropy for March. Now with a pre-tax bid-YTW of 2.14% based on a bid of $27.60 and a call 2009-10-30 at $26.00. This is an interesting issue, with the issuer bid and Putnam financing to be considered. [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-1306 PrefBlog » Blog Archive » March 21, 2007 Fri, 23 Mar 2007 00:08:28 +0000 http://www.prefblog.com/?p=543#comment-1306 [...] Still http://www.prefblog.com/?p=543″>on credit watch by DBRS as the market awaits information regarding their financing of the Putnam purchase. This issue has an http://www.prefblog.com/?p=619″>issuer bid outstanding, although no shares were purchased under last year’s plan. Now with a pre-tax bid-YTW of 2.41% based on a bid of 26.62 and a call 2009-4-30 at $25.50 … if the company waits until the first possible par-value call, 2011-4-30, it will have yielded 3.00%; and if the issue lasts until its softMaturity 2014-3-30, it will have yielded 3.64%. Take your pick! [...] [...] Still http://www.prefblog.com/?p=543″>on credit watch by DBRS as the market awaits information regarding their financing of the Putnam purchase. This issue has an http://www.prefblog.com/?p=619″>issuer bid outstanding, although no shares were purchased under last year’s plan. Now with a pre-tax bid-YTW of 2.41% based on a bid of 26.62 and a call 2009-4-30 at $25.50 … if the company waits until the first possible par-value call, 2011-4-30, it will have yielded 3.00%; and if the issue lasts until its softMaturity 2014-3-30, it will have yielded 3.64%. Take your pick! [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-1281 PrefBlog » Blog Archive » March 20, 2007 Wed, 21 Mar 2007 02:03:43 +0000 http://www.prefblog.com/?p=543#comment-1281 [...] Still on credit watch by DBRS as the market awaits information regarding their financing of the Putnam purchase. This issue has an issuer bid outstanding, although no shares were purchased under last year’s plan. Now with a pre-tax bid-YTW of 2.41% based on a bid of 26.62 and a call 2009-4-30 at $25.50 … if the company waits until the first possible par-value call, 2011-4-30, it will have yielded 3.00%; and if the issue lasts until its softMaturity 2014-3-30, it will have yielded 3.64%. Take your pick! [...] [...] Still on credit watch by DBRS as the market awaits information regarding their financing of the Putnam purchase. This issue has an issuer bid outstanding, although no shares were purchased under last year’s plan. Now with a pre-tax bid-YTW of 2.41% based on a bid of 26.62 and a call 2009-4-30 at $25.50 … if the company waits until the first possible par-value call, 2011-4-30, it will have yielded 3.00%; and if the issue lasts until its softMaturity 2014-3-30, it will have yielded 3.64%. Take your pick! [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-1045 PrefBlog » Blog Archive » March 6, 2007 Wed, 07 Mar 2007 03:03:58 +0000 http://www.prefblog.com/?p=543#comment-1045 [...] Strange trading near the close - possibly an error, although not in and of itself enough to explain the sharply lower closing bid. HSBC bought 105 shares at 26.96 from “Anonymous” and Jones Gable (the odd lot) at 3:54pm, then sold 155 shares at 26.65 to Anonymous and Jones Gable (again the odd-lot). Huh. I wonder if there’s a story there … but there was a block trade and a bunch of odd lots trading at 26.65 prior to this, with lots of time for anyone to put in a better bid, so it doesn’t seem that the error (if that’s what it was) affected the price. Now with a pre-tax bid-YTW of 2.33% based on a bid of 26.64 and a call 2009-04-30 at $26.00. The yield is 2.95% if it survives until 2011-4-30 @ $25.00! Woo-hoo! Interest equivalent of almost a bond! This issue is on Credit Watch Developing and GWO has an issuer bid in place. [...] [...] Strange trading near the close – possibly an error, although not in and of itself enough to explain the sharply lower closing bid. HSBC bought 105 shares at 26.96 from “Anonymous” and Jones Gable (the odd lot) at 3:54pm, then sold 155 shares at 26.65 to Anonymous and Jones Gable (again the odd-lot). Huh. I wonder if there’s a story there … but there was a block trade and a bunch of odd lots trading at 26.65 prior to this, with lots of time for anyone to put in a better bid, so it doesn’t seem that the error (if that’s what it was) affected the price. Now with a pre-tax bid-YTW of 2.33% based on a bid of 26.64 and a call 2009-04-30 at $26.00. The yield is 2.95% if it survives until 2011-4-30 @ $25.00! Woo-hoo! Interest equivalent of almost a bond! This issue is on Credit Watch Developing and GWO has an issuer bid in place. [...]

]]> http://www.prefblog.com/?p=543&cpage=1#comment-839 PrefBlog » Blog Archive » GWO.PR.E / GWO.PR.X : Issuer Bid Update Fri, 23 Feb 2007 23:51:20 +0000 http://www.prefblog.com/?p=543#comment-839 [...] Update : I forgot the links to aid navigation! The issuer bid was last discussed January 25; it remains to be seen how the cash required for the Putnam Purchase will affect the buyback. [...] [...] Update : I forgot the links to aid navigation! The issuer bid was last discussed January 25; it remains to be seen how the cash required for the Putnam Purchase will affect the buyback. [...]

]]>