The Financial Post reports in its Thursday edition that after almost three months without a rate-reset preferred share transaction, the market has received $1.4-billion of such offerings in the past week. The Post's Barry Critchley, writing in Off the Record, says that from early September to late November, not one issuer came to the market with a product that offers a fixed-rate yield for the first five years and the prospect of either another fixed-rate or a floating-rate security for the next five years. Things have changed dramatically with all the issuance coming from non-financial corporations. Pembina Pipelines started the resurgence with a $400-million raise at 4.90 per cent. In five years that rate will serve as the minimum reset yield for the following five years. Brookfield Office Properties priced a $250-million offering on which investors will receive a fixed yield of 4.85 per cent. The underwriters were given a greenshoe to raise an extra $50-million. Then came Enbridge with a $500-million issue that will also pay investors a fixed rate of 4.90 per cent. The fourth transaction occurred Wednesday when Kinder Morgan Canada announced a $200-million deal at 5.20 per cent which could increase to $250-million.