CU.PR.B To Be Redeemed

Canadian Utilities Limited has announced:

that it will redeem on June 30, 2012 all of its outstanding Cumulative Redeemable Second Preferred Shares Series X at a price of $25.00 per share plus accrued and unpaid dividends per share. The $150 million aggregate cost of redemption will be funded from the net proceeds of the Series AA Preferred Share offering and cash.

CU.PR.B was last mentioned on PrefBlog when it was the first Straight Perpetual to crawl back into premium territory after a long period below par during the Credit Crunch.

CU.PR.B has been tracked by HIMIPref™ and is a member of the PerpetualPremium subindex.

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