RE:RE:RE:RE:RE:RE:RE:RE:Preferred Shares Trading at Discount to FinancingPerpetuals, as the name suggests, don't mature, and therefore don't come with an obligation to be paid back, as is such with common equity. They're issued at a par value, and can be redeemed (or converted) depending on the terms, but there's no obligation to repurchase the shares. Some companies with preferred shares break down the equity components on the balance sheet, others don't. It's really not that material.