Husky Energy has announced:
that more than one million of its 12,000,000 Cumulative Redeemable Preferred Shares, Series 1 (Series 1 Shares) have been elected for conversion on a one-for-one basis into Cumulative Redeemable Preferred Shares, Series 2 (Series 2 Shares), effective March 31, 2016.
As of March 31, 2016, Husky Energy will have 10,435,932 Series 1 Shares and 1,564,068 Series 2 Shares issued and outstanding. The Series 1 Shares are listed on the Toronto Stock Exchange under the symbol HSE.PR.A and the Series 2 Shares are listed under HSE.PR.B.
HSE.PR.B will pay 3-Month bills +173bp paid on par value, reset quarterly.
There was no trading of the issue. Given the wide spread of the closing quote of 8.80-12.00, 1×1, any sort of price comparison with HSE.PR.A and other FloatingResets must await a tighter market.
For what it’s worth (not much), vital statistics are:
| HSE.PR.A | FixedReset | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-03-31 Maturity Price : 10.30 Evaluated at bid price : 10.30 Bid-YTW : 5.92 % |
| HSE.PR.B | FloatingReset | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-03-31 Maturity Price : 8.80 Evaluated at bid price : 8.80 Bid-YTW : 6.21 % |
Could HSE.PR.B be added to PrefInfo.com?
HSE.PR.A at 2.404% and HSE.PR.B at 2.192%
http://huskyenergy.mwnewsroom.com/Files/fa/fa12f770-5e07-428d-aa24-fdf899e06cc0.pdf