Thursday, 23 February 2012

Perpetual Cumulative Securities

Singpost - 23 Feb 2012, Proposed Issue of Singapore Dollar-Denominated Senior Perpetual Cumulative Securities$file/SGXAnn.pdf?openelement

Olam - 23 Feb 2012, PROPOSED ISSUE OF S$275,000,000 7 PER CENT. PERPETUAL CAPITAL SECURITIES$file/23Feb2012-SGDPerps_SGX.pdf?openelement

How come nowaday so many companies issue this thing?

Did a google but couldnt find information on this.

Closest which I can find is :
A type of preferred stock that has no maturity date. The issuers of perpetual preferred stock will always have redemption privileges on such shares. Issued perpetual preferred stock will continue paying dividends indefinitely.

Perpetual Cumulative Securities  - Pay coupons with no call date?


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