TSX:AX.PR.E - Post by User
Comment by
InvestSmarteron Aug 31, 2023 6:53pm
90 Views
Post# 35614805
RE:for your interest
RE:for your interest I am doubtful excercising the option to convert E to F by unitholders will be heavily taken up. These interest rates are enticing to lock in fixed, and the floating rate is also enticing if you believe rates will stay high for 3+ years.
incomedreamer11 wrote: 3,277,000 Pref.E ( 7.2%) will be converted into Pref.F ( 8,45%) ,
3,277,000x 1,25% difference=4,1 mln.$ more interest on pref.,AFFO payout will be around110%
They will need to cut distribution if don't sell anything in nearest future.
Any cut distribution in this environment will send shares -15-20%