Monday, May 14, 2018

May 14, 2018, Mini-Update: Peanut Convertible Debentures Power Rankings

Hi. This is the 31st update of the Peanut Convertible Debentures Power Rankings, which is current to May 14, 2018.  Like last time, this will be a pint-sized, mini-update: the rankings have been updated but no time this week for commentary on the market and the top-5, or a Picture of the Day, either.  Just getting slammed at work ... sorry.  Hopefully you will still find our compact update useful.  Thank you for continuing to read and support the Canadian Convertible Debentures Project.
For a summary of the rankings of our entire convertible debenture coverage universe including the quantitative model prices of, and notes on each issue we follow, click on the table below to view it larger.

For background information on the Peanut Power Rankings, please see our FAQs by clicking here

Important: the Peanut Power Rankings are provided as information and opinions only and are not intended to be a provision of investment advice or a recommendation of any investment action in any form.  As with all information concerning investments, it is highly recommended that an individual consult with a qualified investment professional before making any investment decisions.

Public Service Message: the Financial Post Convertible Debentures List
We've received quite a few emails asking about the Financial Post's convertible debentures list, which has apparently vanished from the newspaper's website.  Unfortunately, we don't know of another complete list of Canadian convertible debentures that is available free to the public that has the same depth of information that was contained in the Financial Post list.  The stats and figures we use for the Peanut Power Rankings we collect from various public sources and calculate ourselves (it's a lot of work!); we don't have a complete list of convertible debentures either.

For those of you out there that are clients of a full-service brokerage firm with a research team that covers convertible debentures, you may be able to obtain a complete list if you ask your broker.  Also, as we announced on December 20, thanks to one our valued readers, we were informed that the TSX publishes a basic list on its website approximately monthly.  It's not the same as the old Financial Post list, but hopefully it can still be of use to some of you out there. 

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In addition, for media, sponsoring and/or financial institution inquiries, please email us at  Thank you for your interest!



  1. I'm surprised you downgraded DHX so much. I tough getting some cash and the fact that they are considering abandoning dividend would be better for the debt holder.

    Furthermore, since Sony is in Peanut I expect them to try help them monetize this asset.

  2. Hi Etienne, thanks taking the time to leave your thoughts. That's a fair comment on DHX and I appreciate the discussion. The drop in ranking is more a reflection of the plummeting stock price more than anything; the market really did not like these quarterly results. Peanuts is DHX's best asset and generates considerable free cash. Having to sell essentially half of it only a year after acquiring to pay off debt raises some eyebrows. I agree that Sony is an excellent partner to have in Japan and Asia, and in the future, it will hopefully help to drive licensing revenue. The Board's strategic review seems increasingly unlikely to generate a sale of the company (just speculation on my part, I have no info) - talking about options such as suspending the dividend or delisting off Nasdaq do not inspire confidence in shareholders. These are not moves made by companies who are optimistic about the future. I'm disappointed. As you know, I thought Peanuts was a great acquisition which brought in a trophy asset to the stable. I think perhaps the real problem is that the other IP DHX owns just isn't performing, or DHX isn't executing as well as it should be in generating cash flow. That said, I still hold both the shares and the debentures. It would make me feel better however if they can post a better Q4 than Q3. Anyway, just some of my thoughts.