Brookfield Office Properties Inc T.BPO.PR.A

redemptions

[oilinvestor52]

Lots of Bank pref redemptions over past few months and more coming. I would suspect as the Bank prefs are redeemed more buying will come down the foodchain. Names such as the BPO, FFH, ENB, TRP prefs, which are stil very inexpensive even if rates come off.

[pierrelebel]

"... more buying will come down the foodchain. Names such as the BPO, FFH, ENB, TRP prefs,..." I do not think so. Apples and oranges. Take a very good look at all those bank preferred shares being redeemed at par.  ALL of them were trading very near their redemption prices ($25). BPO preferred shares all trade at deep discount and there is NO advantage whatsoever for Brookfield

[SONOFFERGUS]

GM Pierre I think oilinvestor52 is saying that investors who have been cashed out of their bank prefs may keep the money in the sector, which is positive for BPO and other lesser credits. Amen to that! I was looking at ZPR's holdings on the weekend and they have blasted out their BPO positions.  Last time I looked was early Feb and they were holding a whack of different series. 

[oilinvestor52]

Yes that is what I meant. I don't expect ENB, TRP, BPO etc to redeem but I do expect more buying pressure on remaining outstanding prefs as a result of bank redemptions. The ETF's need to reinvest the capital back into the asset class from bank redemptions and retail investors such as myself will look to redeploy the capital.