drbubb Posted May 4, 2018 Report Share Posted May 4, 2018 Canadian Convertible Debenture Market: list: 1: 2: 3: 4: 5: CVD, CXD.t / Conv. Debt Indecies ... update : 10d : @ 02/12: $18.55 (18.32) / C10.31 (9.89) : r-179.9%, (prev.r185.2%) CXF.t is? CI First Asset Canadian Convertible Bond ETF CXF.to ... 10-year: 5yr: 1yr / CXF: C$10.31, Div.C$0.48 = Yield: 4.66% / CVD: $18.55, Div.$0.833 = Yield 4.49% AUG. 2019 Risk ——: UnderV / Company — : Coupon : Maturity : Db.Price : Y.T.M.: u/l price: conv. : Pct. : Y xPct:Lower:ARE.DB.C : 6.05% / Aecon Group : 5.00% : 31-Dec-23 : $105.10 : 3.71%: $18.49: $24.00: 77.0% : r2.86Mod. :AD.DB : 9.53% / Alaris Royalty: 5.50% : 30-Jun-24 : $ 95.75 : 6.54%: $19.33: $24.25: 79.7% : r5.21EIF.DB.K. : 7.85% / Exch.Inc.Corp: 5.75% : 31-Mar-26 : $100.24: 5.70%: $38.50: $49.00: 78.6% : r4.48EIF.DB.J : 5.37% / Exch.Inc.Corp: 5.35% : 30-Jun-25 : $100.25 : 5.30%: $38.50: $49.00: 78.6% : r4.17 higher :CHE.db.D : 6.89% / Chemtr.Logist: 4.75% : 31-May-24: $ 91.95 : 6.54%: $10.73: $26.70: 40.2% : r2.63SGY.db. : 3.41% / Surge Energy : 5.75% : 31-Dec-22 : $ 93.49 : 8.01%: $01.10: $02.75: 40.0% : r3.20CF.db.A : -0.96%/ Cana. Genuity: 6.25% : 31-Dec-23 : $101.99 : 5.72%: $05.01: $10.00: 50.1% : r3.13WILD.db : 30.4% / Wild Brain : 5.88% : 30-Sep-24 : $ 72.00 : 13.7%: $01.69: $08.00: 21.1% : r2.89MOGO.db: 10.9% / MogoFinance : 10.0% : 06-Jun-20 : $ 95.50 : 16.4% : $04.04: $05.00: 80.8% : r13.3FIRE.db : 23.6% / SupremeCana: 6.00%: 19-Oct-21 : $ 85.00 : 14.4% : $01.38 : $02.45: 56.3% : r8.11 ===== Underlying shares (of discounted Debs) / chart #1-eif, #2-mogo, #3-wild : 1/ EIF-etc. : fr. Jun.2017 : 10d : @ 02/12: $44.91, are: $17.97, ad: $23.20, che: $8.77 , R:eif/ad: r-1.94 2/ MOGO etc, fr. Jun.2017 : @ 02/12: $2.585, sgy: $1.01, fire: $0.405, che: $8.77 , R:mo/fi: r-6.38 3/ WILD (ex.DHX) -etc. from 1.1.2016 : Jun.2017 : MHIVF= Us quote for: Invesque : IVQ.DB.V - IVQ.U = : BCV-etc ... Update : 10d : $21.59 w/ 4.63% yield ($1.00 div.?) - BCV is a us convertible fund (shows how cv bonds are performing) Exploiting Opportunities in an Overlooked Asset Class Published by Paul Borisoff on May 18, 2017 Convertible Debentures can provide extremely attractive risk/return opportunities for investors The Canadian Convertible Debenture market in particular is one of our favorite “asset classes” in which to hunt for compelling investment opportunities for our discretionary Diversified Income Portfolio which is currently ~ 36% exposed to this area. A convertible debenture is a hybrid security which has some of the features of both bonds and equities. It is essentially an issuer unsecured debt obligation which comes with a set maturity date, maturity value, and a built-in conversion option to equity that can provide significant upside potential. A convertible debenture is almost always a safer way for an investor to be exposed to a particular company compared to buying its common or preferred shares directly. However, if you do not like the nature of a firm’s business (i.e. a highly cyclical resource issuer), the state of the firm’s balance sheet, or have questions about the firm’s expected profitability, overall direction and/or management quality should probably stay away from its convertible debentures as well. You will often see the terms convertible bond and convertible debenture used interchangeably – with the distinction being that some convertible bonds are secured debt obligations but most convertible debentures issued in Canada are not secured. To further confuse matters “debentures” often have different definitions in different countries - i.e. U.K. issued debentures are usually secured1 while in the U.S. debentures refer specifically to an unsecured corporate bond2. With any investment it is important to understand what you are buying, how it works and what a reasonable return expectation is for the investment under a variety of scenarios. It is important to have an appreciation of the issuer’s financial stability. Complicating matters for investors researching convertible debenture opportunities in Canada is the fact that most issues are not rated by any credit rating agencies. The risk profile of individual convertible debentures varies greatly as they are regularly issued from a wide range of companies - from very small micro-cap “start-ups” right up to large, multi-billion dollar firms. Only investors that are comfortable picking their own stocks should consider buying their own convertible debentures. Convertible debentures are not a “guaranteed investment” like a GIC which has CDIC coverage. They are however safer than buying the issuing company’s common shares or preferred shares. > More: http://borisoffcoxwealth.com/blog/2419607-The-Canadian-Convertible-Debenture-Market--Exploiting-Opportunities-in-an-Overlooked-Asset-Class OTHER Info sources: Felix Choo, CFA at : https://convertibledebentures.blogspot.ca/. / List : peanut-power-rankings.html Divestor -------------- : http://divestor.com/?p=7523 Finl Post Prices -- : http://business.financialpost.com/markets Canadian REITS - : https://en.wikipedia.org/wiki/List_of_REITs_in_Canada BCV / Bancroft --- : http://gabelli.com/Gab_pdf/finan/-123.pdf : Calamos Cv. Holdings : Portfolios : List- All- 9/2018 - : DB-1 : DB-2 : DB-3 : DB-all : Link to comment Share on other sites More sharing options...
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