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The [New Issues/IPO] thread - AQN $13.25

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  • Dec 7th, 2017 2:44 pm
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Deal Addict
Jun 27, 2007
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Intact Financial Corporation 5.30% Non-Cumulative Class A Shares, Series 6 -- Straight Perpetual

any takers? I don't have much exposure to this asset class at the moment
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
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Dec 21, 2005
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Markham
dlhunter wrote:
Aug 9th, 2017 2:09 pm
Intact Financial Corporation 5.30% Non-Cumulative Class A Shares, Series 6 -- Straight Perpetual

any takers? I don't have much exposure to this asset class at the moment
Still open @ TD; closed at iTrade

They last issued similar preferreds at a 5.2% (May 2017); unlike the banks, these do not reset to a different rate in 5 yrs. So if rates go higher in 2022, too bad
:idea: :) :lol: :razz: :D
Sr. Member
Aug 17, 2008
657 posts
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dlhunter wrote:
Aug 9th, 2017 2:09 pm
Intact Financial Corporation 5.30% Non-Cumulative Class A Shares, Series 6 -- Straight Perpetual

any takers? I don't have much exposure to this asset class at the moment
Correct me if I'm wrong, but take a look at this chart of the generic 5 yr Canada yield. https://invst.ly/4rlwn

We don't know where Intact struck their pricing, so assume the widest spread, which maybe the low yield of the day on the 5yr Cda (the earliest call date).

Low Yield on May 12 = 0.678%, therefore the implied spread was 452.2bps
Low yield today = 1.500%, therefore the implied spread is 390.0 bps

That's a lot of credit tightening in 3 months. Equity mkts are higher too mind you.
I don't know if there is an Intact 5 yr, but I'd bet there is one close. See what that performance has been vs the outstanding pref's for a comp.

Good luck
Sr. Member
Aug 17, 2008
657 posts
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AAPL CAD debt deal...

TORONTO, Aug. 18 (IFR) - Apple Inc is heard in the domestic market with a new CAD 7yr Maple notes issue, via leads HSBC, RBCCM, BMO and Goldman. No other details yet on spread or timing. here's a link to the filing on Edgar: https://www.sec.gov/Archives/edgar/data ... d424b2.htm

Update: will be C2.5B at the tight end of the range
[OP]
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Sep 19, 2004
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HBM new issue at C $10.10 (vs. $10.75 closing today, so 6% discount)

After copper has run up so high...

Sad to see that CVE, ENF in my thread title are nowhere near the issue price
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Feb 26, 2017
331 posts
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Issuer: Brookfield Infrastructure Partners L.P. - US Dollar
Short Description: Treasury Offering of Limited Partnership Units via Bought Deal
Size of Issue: Approximately US$1 billion
Category: Income Trusts
Price: $42.10 US per unit
Settlement Date: On or about September 15, 2017
Symbol: BIP.UN on the TSX BIP on the NYSE

Its about 4% off what BIP closed at and looks like its still open with TD.
Sr. Member
Aug 17, 2008
657 posts
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@jerryhung, Time to set up another separate thread like the Canada Goose one? :)

Roots IPO, https://www.bloomberg.com/news/articles ... oronto-ipo

Sedar filing: http://www.sedar.com/CheckCode.do;jsess ... :1884ter20

My bold, if you are looking for the bookrunner with the most shares to allocate.

TD Securities Inc. (“TD”), Credit Suisse Securities (Canada), Inc. (“Credit Suisse”) and BMO Nesbitt Burns Inc. (“BMO Capital Markets” and, together with TD and Credit Suisse, the “Joint Active Bookrunners”) and Jefferies Securities, Inc., RBC Dominion Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., Canaccord Genuity Corp. and National Bank Financial Inc. (together with the Joint Active Bookrunners, the “Underwriters”

Via The Globe and Mail

"The company, known for its casual wear and leather goods with a distinctive beaver logo, said New York-based private equity firm Searchlight Capital Partners LP and founders Michael Budman and Don Green are selling their stake."

I'll pass.
Sr. Member
Jul 27, 2017
506 posts
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GTA
jerryhung wrote:
Sep 20th, 2017 11:25 am
CVE is almost back to $12 CAD... how things change quickly
It was below $10 just on 9/11
What caused CVE to drop to the $9 range & why now is it now trying to recover, was this due to any changes in revenue, expenditures, material changes or other?
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Dec 21, 2005
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porticoman wrote:
Sep 20th, 2017 11:46 am
What caused CVE to drop to the $9 range & why now is it now trying to recover, was this due to any changes in revenue, expenditures, material changes or other?
$50+ oil prices helps a lot
:idea: :) :lol: :razz: :D
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Roots IPO, anyone in? I'm afraid to buy IPO/secondary now since getting burned all 2017 long :(

Short Description: IPO of Common Shares via Marketed Deal
Price: To be determined - contact TD Direct Investing
Settlement: Expected the week of October 23, 2017.
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Sep 22, 2005
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BC
In for 1000 shares.
jerryhung wrote:
Oct 2nd, 2017 1:48 pm
Roots IPO, anyone in? I'm afraid to buy IPO/secondary now since getting burned all 2017 long :(

Short Description: IPO of Common Shares via Marketed Deal
Price: To be determined - contact TD Direct Investing
Settlement: Expected the week of October 23, 2017.
[OP]
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Sep 19, 2004
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wow, busy day

Jamieson Wellness Inc.

Short Description: Secondary Offering of Common Shares via Bought Deal
Price: $18.50 CDN per share.
Settlement: On or about October 18 2017.

closed at $19.65 today
52 wk Range16.44 - 20.01
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