Brookfield Office Properties Inc T.BPO.PR.A

Alternate Symbol(s): T.BPO.PR.X | BRKFF | BRPYF | T.BPO.PR.Y | BROAF | T.BPO.PR.C | T.BPO.PR.E | T.BPO.PR.G | T.BPO.PR.I | BKEEF | T.BPS.PR.U | BROPF | BOPPF | T.BPO.PR.N | T.BPO.PR.P | BKAAF | T.BPO.PR.R | BKOFF | T.BPO.PR.T | BRPPF | T.BPO.PR.W

Brookfield Office Properties Inc. is a global office property company. The Company owns, manages, and develops premier assets in the resilient markets. The Company's signature properties define the skylines of dynamic cities around the globe, including New York, Washington, D.C., Houston, Los Angeles, Toronto, Calgary, London, Berlin, Sydney and Perth. From Brookfield Places in New York City, Toronto and Perth to Bankers Hall in Calgary and Bank of America Plaza in Los Angeles, its distinguished portfolio attracts financial, energy, government and professional service organizations which have high credit ratings and maintain long-term leases.

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Brookfield Office Properties Inc > Simple Example of "permanent capital" financial 101

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Comment by Carenaon Feb 14, 2024 11:38am

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Post# 35879846

RE:RE:RE:Simple Example of "permanent capital" financial 101

Crazy,

BPO issued their prefs when their debt rating was investment grade. If they were to go to market today to issue prefs with a junk rating, the prefs would be priced to yield 10-15%. BPO will not be doing that anytime soon. And thus why I agree with Pierre, they are also not redeeming anything at par any time soon. IMHO. That is, today these BPO prefs are gold to BN, a junk rating with an investment grade cost.

This is why I say, BN loves their permanent capital and which is why they are in the market creating liquidity and standing behind their BPO prefs. The question is, how long will they stay at it.

Hopefully this makes sense,
Carena

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