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if buffet buys ceg
what happens to ceg preferreds?
thanks for the help!

Technically, its Mid-American (a Berkshire subsidary) that is buying CEG. Irregardless, the acquisition, if it goes through, would mean that CEG preferreds would be backed by the full faith and credit of Berkshire Hathaway (AAA rated).

I've been following the Constellation Energy Group Inc., 8.625% Series A Junior Subordinated Debentures, CEG-A, it's currently available at $21.55 per stub ($25 par) and pays an annual coupon of $2.15625 giving a yield of 10.0%.

From Quantum:

SECURITY DESCRIPTION: Constellation Energy Group Inc., 8.625% Series A Junior Subordinated Debentures, issued in $25 denominations, redeemable at the issuer's option on or after 6/15/2013 at $25 per share plus accrued and unpaid interest, and maturing 6/15/2063 which may be extended to 6/15/2068. Interest distributions of 8.625% ($2.15625) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which is the close of the business day immediately preceding the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 10 consecutive years (but not beyond the maturity date). Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The Notes are unsecured, subordinated obligations of the company and will rank junior and be subordinated to all existing and future senior unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.

Do you have a ticker symbol for the preferreds?

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