Enbridge Inc. has announced :
that none of Enbridge’s outstanding Cumulative Redeemable Preference Shares, Series F (Series F Shares) will be converted into Cumulative Redeemable Preference Shares, Series G of Enbridge (Series G Shares) on June 1, 2018.
After taking into account all conversion notices received from holders of its outstanding Series F Shares by the May 17, 2018 deadline for the conversion of the Series F Shares into Series G Shares, less than the 1,000,000 Series F Shares required to give effect to conversions into Series G Shares were tendered for conversion.
It will be recalled that ENB.PR.F will reset to 4.689% effective 2018-6-1 and will hence be referred to as a FixedReset, 4.689%+251.
ENB.PR.F commenced trading 2012-1-18 after being announced 2012-1-9. It is tracked by HIMIPref™ but relegated to the Scraps subindex on credit concerns.
It will be further recalled that I recommended against conversion.
This entry was posted on Thursday, May 24th, 2018 at 10:19 pm 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.F: No Conversion to FloatingReset
Enbridge Inc. has announced :
It will be recalled that ENB.PR.F will reset to 4.689% effective 2018-6-1 and will hence be referred to as a FixedReset, 4.689%+251.
ENB.PR.F commenced trading 2012-1-18 after being announced 2012-1-9. It is tracked by HIMIPref™ but relegated to the Scraps subindex on credit concerns.
It will be further recalled that I recommended against conversion.
This entry was posted on Thursday, May 24th, 2018 at 10:19 pm 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.