content_image/226339.jpg content_image/226340.jpg content_image/226341.jpg content_image/226342.jpg content_image/226343.jpg
The current and non-current balances of subsidiary borrowings are as follows: 

<img src='content_image/226339.jpg'>

Subsidiary borrowings by currency include: 

<img src='content_image/226340.jpg'>

## 19. CAPITAL SECURITIES 

Capital securities are preferred shares that are classified as liabilities and consist of the following: 

<img src='content_image/226341.jpg'>

## a) Corporate Preferred Shares 

Corporate preferred shares consist of the company’s Class A preferred shares as follows: 

<img src='content_image/226342.jpg'>

On March 6, 2014, the company notified holders that it will redeem all of its outstanding Class A Series 12 preferred shares for cash on April 6, 2014. The redemption price for each preferred share will be C$26.00 plus accrued and unpaid dividends. 

## b) Subsidiary Preferred Shares 

Subsidiary preferred shares are composed of Brookfield Office Properties Class AAA preferred shares and capital securities of fund subsidiaries as follows: 

<img src='content_image/226343.jpg'>

