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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Hi,

I currently own CANEXUS CORPORATION CONV.UNSEC SUB SER V DEBS 12/31/20 6.0000. With the takeover of Canexus by Chemtrade I tendered my bonds to CHE and then time passed and nothing happened. When I contacted my broker iTrade they sent me the following from the CHE website:

The final report provided by the depositary at the expiration of the Offers indicated that an aggregate principal amount of
C$19,475,000 CEI Series V Debentures had been tendered to the Series V Offer and an aggregate principal amount of C$12,576,000
CEI Series VI Debentures had been tendered to the Series VI Offer. Accordingly, as the conditions to the Offers had not been
satisfied as of the expiration time of the Offers, Chemtrade will not accept any tendered CEI Debentures for payment. All CEI
Debentures tendered pursuant to the Offers will be returned to the tendering debentureholder.***

So, where does this leave me as a Canexus bond holder and is there anything I should do or do things just continue as before?

Please advise.

Thanks

Sheldon
Read Answer Asked by Sheldon on October 10, 2017
Q: Just sold my house and not planning to buy one within half a year. I am using part of the proceeds investing in 5i stocks. I want to park the rest of the money somewhere relatively safe for a quarter or half a year. Looking at XHY.to, CVD.to, CPD.to, even KWH_u.to, ALAr.to. A bank is giving you nothing. Please advice
Read Answer Asked by Dong Sheng on October 05, 2017
Q: Peter and Team,

I was curious on your thoughts on the HYLD ETF managed by Peritus. Tim Gramatovich seems like a smart guy with a cautious approach. The yield on the fund is high (approximately matches the yield of the bond/loan book based on a cursory look) and it appears that one would make some money on this holding for the last while considering the NAV and the yield. Your thoughts and a quick confirmation of what you see as the total annual return of this ETF for the last few years would be much appreciated! Looking back 5 years, it looks like the NAV of the ETF got hit pretty hard by the High Yield crisis that was going on a few years back.

Thanks,

Marc
Read Answer Asked by Marc on October 04, 2017
Q: i bought BCE almost 10 years ago after the flaherty income trust debacle. i have not added to the position and it now makes up a small percentage of my portfolio (less than 2%). going forward i struggle to see where BCE will get growth from. I was thinking of selling BCE and buying more BEP.UN. It would bring BEP.UN up to a full 5% weight. To me BEP.UN would provide a little more capital growth along with a higher dividend. These are both held in a registered account. Thoughts?
Read Answer Asked by Richard on October 04, 2017
Q: Hi 5i,
A few days ago, in your most recent answer on a Callidus (CBL) question, you closed by saying:
“We think there will be more clarity in the next 30-60 days and with a 3% position, we would simply sit tight for the time being.”
This struck me as interesting because I was thinking was that a longer timeframe (more like 2+ quarters) would likely be required for the company to show sufficient progress in portfolio growth and (maybe more importantly) value realization to re-kindle sufficient interest to support a go-private transaction. But given your comment I’m wondering if I was missing an interim catalyst that might clarify their situation sooner. Can you say what made the shorter timeframe potentially significant in your view? Thanks!
Read Answer Asked by Lance on October 03, 2017
Q: I own equal amounts of Veresen and Pembina. I do not want to double my shares in Pembina. Should I sell Veresen now (it is above the agreed selling price) or should I wait until the closing and sell off my additional Pembina shares at that time?
Read Answer Asked by William on October 03, 2017
Q: I recently read a recommendation to sell rate reset preferreds because "the 5 year GOC has moved too far too fast from 0.40% one year ago to 1.80%+ now." They further worried that upside is limited from here, and downside is huge if there are no buyers.

I thought that we seemed to be in a period of rising rates and that a laddered portfolio of rate reset preferreds was a healthy option for part of one's portfolio, given a desire for some income. I'd appreciate your thoughts. Thanks in advance.
Read Answer Asked by Bill on October 02, 2017
Q: I have two unrelated questions. In a $3 million portfolio, I have about 100 holdings, which I would like to greatly reduce. I have ENB, ENF, IPL, PPL, and TRP. I would like to reduce the number to one or two of those names. My interest is capital gains and a good dividend. Which pipeline company will give me the best capital gains and divide over the next five years?

The second question relates to REAL. I bought the new issue at $ 13 and the present price is only $10.62. Should I sell and repurchase in 30 days or just sell the stock. What is the future outlook and the next reporting date?
Read Answer Asked by George on October 02, 2017
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