Xstrata Canada has announced:
that it will mail on January 14, 2009 a notice of redemption for all of its outstanding Cumulative Preferred Shares, Series 3 (TSX:FAL.PR.B) (the “Preferred Shares”). Xstrata Canada will redeem all of the outstanding Preferred Shares on March 1, 2009 for C$25.00 in cash, plus accrued and unpaid dividends in respect of each Preferred Share up to, but excluding, March 1, 2009. Xstrata Canada intends to use its internal cash resources to fund the aggregate redemption price of approximately C$79 million. Following the redemption of the Preferred Shares, Xstrata Canada will no longer have any publicly traded shares.
This follows the redemption of FAL.PR.A and FAL.PR.H last year.
FAL.PR.B is tracked by HIMIPref™. It was moved from the FixedFloater subindex to Scraps in August 2008 on volume concerns.