Stock price when the opinion was issued
Tempting. You'd get a yield of about 8% until the end of September, and 7.25% after that unless they call it back. You could buy a 5-year GIC in a registered account, no risk, and a yield of 5.32%. Or buy a laddered group of preferreds with about 6%.
Pretty indebted, not the best credit rating, fairly illiquid. If he's going to take the risk, he really wants the reward. He doesn't love either, but the AX.UN common shares with a yield of 8.34% are a better bet right now.
Has a rate reset spread at 330 basis points, and pays a dividend yield of 15%. Something happened to the dividend last August. Doesn't know this name well. They are selling some retail assets to add stability to the stock.