TransCanada Corporation has announced:
that 1,284,609 of its 14,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 5 (Series 5 Shares) have been elected for conversion on a one-for-one basis, into floating rate Cumulative Redeemable First Preferred Shares, Series 6 (Series 6 Shares) effective on February 1, 2016. As a result, on February 1, 2016, TransCanada will have 12,715,391 Series 5 Shares and 1,284,609 Series 6 Shares issued and outstanding. The Series 5 Shares and Series 6 Shares will be listed on the Toronto Stock Exchange under the symbols TRP.PR.C and TRP.PR.I, respectively.
Assiduous Readers will recall that TRP.PR.C will reset to 2.263%; TRP.PR.I is a FloatingReset paying 154bp over 3-Month Bills, reset quarterly. I recommended against conversion.
This entry was posted on Friday, January 22nd, 2016 at 1:30 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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TRP.PR.C / TRP.PR.I: 9% Conversion to FloatingReset
TransCanada Corporation has announced:
Assiduous Readers will recall that TRP.PR.C will reset to 2.263%; TRP.PR.I is a FloatingReset paying 154bp over 3-Month Bills, reset quarterly. I recommended against conversion.
This entry was posted on Friday, January 22nd, 2016 at 1:30 am 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.