Kinder Surprise – KML taken out by PPL | Value Investing News

Kinder Surprise – KML taken out by PPL

  • With regards to the preferred shares, I will point out that PPL has two preferred share series with minimum rate resets: PPL.PR.K (575bps, resets at +500bps with a 575bps mininmum rate) and PPL.PR.M (575bps, resets at +496bps with a 575bps minimum rate).
  • Both trade above par value and both reset in the middle of 2021.
  • Holders of KML preferred shares can keep clipping their coupons and have a little more confidence that the size of PPL will back it up.
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