The News Review:
- Agency backs off from land auctions
- DCS Announces At-Par Redemption Notices for Auction Market …
- China c.bank 3-mth bill yield plunges at auction
- Chinese Vase Fetches 20 Times Offer Price at Swedish Auction
- Japan’s Notes Little Changed on Concern Auction Demand to Drop
- Pacholder High Yield Fund Suspends Payment of Dividend on December …
Agency backs off from land auctions
Los Angeles Timesnbsp;CAnbsp;
Environmentalists had accused Bush administration of giving energy industry a ‘parting gift. By Nicholas Riccardi November 26 2008 Reporting from Denver — The Bureau of Land Management on Tuesday backed off from plans to auction more than a dozen leases to explore for oil and gas on the doorstep of several national parks deflecting accusations by environmental groups that it was handing a “parting gift” to the energy industry before the Obama administration takes over. The agency still will proceed with more than 100 lease sales at a Dec. BLM officials did not return calls for comment Tuesday night but they released a statement with the National Park Service after a Monday meeting saying the two agencies had come to an agreement on protecting the environment.
DCS Announces At-Par Redemption Notices for Auction Market …
MarketWatchnbsp;
The Fund will redeem $10 million of its outstanding AMPS. The redemption
price will be equal to the liquidation preference per share plus
accumulated but unpaid dividends as of the applicable redemption date
(as noted in the table below). Following this redemption the Fund will
have $115 million of AMPS outstanding. Redemption Schedule
Series CUSIP Number Number Amount Redemption Date
of Redeemed
Shares
Redeemed
M7 26153R209 80 $2000000 December 16 2008
T28 26153R308 80 $2000000 December 31 2008
W7 26153R407 80 $2000000 December 18 2008
TH28 26153R506 80 $2000000 December 19 2008
F7 26153R605 80 $2000000 December 15 2008
With respect to this partial redemption The Depository Trust Company
(DTC) the holder of record of the Fund’s AMPS will determine how the
partial series redemptions will be allocated among each participant
broker-dealer account which may include selecting AMPS to be redeemed
by lot or such other method as DTC deems fair and equitable.
China c.bank 3-mth bill yield plunges at auction
Forbesnbsp;NYnbsp;
7726 percent traders said after the bank eased monetary policy aggressively. The auction result came in above market expectations between 1. 62 percent but substantially below the 2. 0156 percent level seen at the last auction of such bills two weeks ago.
Chinese Vase Fetches 20 Times Offer Price at Swedish Auction
Bloombergnbsp;
The vase dated 1784 from the Qianlong period sold at theFine Arts amp; Antiques auction that began yesterday StockholmsAuktionsverk said today. The vase displaying mountains andpavilions had a starting price of 80000 kronor to 100000kronor and was picked up by a Chinese collector. The auction house sold art and antiques for 11. 1 millionkronor yesterday below the total starting price of 13 millionkronor. Some 23 percent of the items failed to reach theirstarting prices and went unsold.
Japan’s Notes Little Changed on Concern Auction Demand to Drop
Bloombergnbsp;
27 (Bloomberg) — Japanese bonds were little changedon concern rising funding costs will limit demand at an auctionof 1. 8 trillion yen ($18. 8 billion) in two-year notes today. Repurchase rates increased by the most in more than twomonths and the Tokyo interbank offered rate or Tibor rose fora 13th day yesterday. Bond futures slumped earlier as a gain instocks reduced demand for the safe-haven of government debt.
Pacholder High Yield Fund Suspends Payment of Dividend on December …
MarketWatchnbsp;
(NYSE ALTERNEXT US:PHF) announced it
has suspended the payment of the previously declared (November 12 2008)
dividend on the Fund’s common shares scheduled for payment on December
9 2008 in accordance with the requirements of the Fund’s Articles
Supplementary for Auction Rate Cumulative Preferred Stock and the
Investment Company Act of 1940 as amended. The Fund is not permitted to set apart for payment or pay a dividend on
its common shares unless the Fund’s auction rate preferred shares
(“ARPS”) will have a minimum asset coverage of 200% after payment of the
common share dividend. The asset coverage for the ARPS is less than 200%
today prohibiting the Fund from setting aside amounts necessary to pay
the dividend declared on November 12. Accordingly shareholders of
record on November 28 2008 will not receive the dividend of $0. 075 per
share on December 9 2008. The Fund is posting a QA on the Fund’s
website at.
Related from Managementmonster: Pioneer Investments Announces Management Change for Pioneer …