Q: Greetings 5i
It looks like this preferred is going to be redeemed at $25. Do you know when this is to occur?
Also, and more importantly, why would a company, in todays interest rate environment do this? Has L stated their motivation?
Thank you as always.
SP
It looks like this preferred is going to be redeemed at $25. Do you know when this is to occur?
Also, and more importantly, why would a company, in todays interest rate environment do this? Has L stated their motivation?
Thank you as always.
SP
5i Research Answer:
Companies do not have to give reasons, and none was provided here. But with interest rates heading lower, L either believes it can re-finance at a lower rate, or, it simply does not need to added ccapital and just wants to clean up its preferred share structure. January 8 is the redemption date stated.