Enbridge Inc. has announced:
that after having taken into account all conversion notices received from holders of its outstanding Cumulative Redeemable Preference Shares, Series D (Series D Shares) by the February 14, 2018 deadline for the conversion of the Series D Shares into Cumulative Redeemable Preference Shares, Series E of Enbridge (Series E Shares), less than the 1,000,000 Series D Shares required to give effect to conversions into Series E Shares were tendered for conversion. As a result, none of Enbridge’s outstanding Series D Shares will be converted into Series E Shares on March 1, 2018.
ENB.PR.D is now a FixedReset, 4.46%+237, that commenced trading (with a 4.00% coupon) 2011-11-23 after being announced 2011-11-14. It is tracked by HIMIPref™ but relegated to the Scraps subindex on credit concerns.
It will be recalled that ENB.PR.D will reset to 4.46% effective March 1 and I recommended against conversion.
This entry was posted on Wednesday, February 21st, 2018 at 12:08 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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ENB.PR.D : No Conversion to FloatingReset
Enbridge Inc. has announced:
ENB.PR.D is now a FixedReset, 4.46%+237, that commenced trading (with a 4.00% coupon) 2011-11-23 after being announced 2011-11-14. It is tracked by HIMIPref™ but relegated to the Scraps subindex on credit concerns.
It will be recalled that ENB.PR.D will reset to 4.46% effective March 1 and I recommended against conversion.
This entry was posted on Wednesday, February 21st, 2018 at 12:08 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.