Pembina Pipeline Corporation has announced:
that none of Pembina’s Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 19 (“Series 19 Shares”) (TSX: PPL.PR.S) will be converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 20 of Pembina (“Series 20 Shares”) on June 30, 2020.
After taking into account all the conversion notices received from holders of its outstanding Series 19 Shares by the June 15, 2020 deadline for the conversion of the Series 19 Shares into Series 20 Shares, less than the 1,000,000 Series 19 Shares required to give effect to conversions into Series 20 Shares were tendered for conversion.
PPL.PR.S is a FixedReset, 5.00%+427, that commenced trading 2015-4-1 as VSN.PR.E after being announced 2015-03-23. The ticker change became effective 2017-10-5 after the closing of a merger between the companies. The issue will reset to 4.684% effective 2020-6-30. The issue is tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
This entry was posted on Tuesday, June 16th, 2020 at 8:09 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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PPL.PR.S : No Conversion To FloatingReset
Pembina Pipeline Corporation has announced:
PPL.PR.S is a FixedReset, 5.00%+427, that commenced trading 2015-4-1 as VSN.PR.E after being announced 2015-03-23. The ticker change became effective 2017-10-5 after the closing of a merger between the companies. The issue will reset to 4.684% effective 2020-6-30. The issue is tracked by HIMIPref™ but relegated to the Scraps index on credit concerns.
This entry was posted on Tuesday, June 16th, 2020 at 8:09 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.