5 Responses to “July 29, 2022”

1. Nestor says:

   July 29, 2022 at 8:03 pm

   my girls love unicorns James. keep the unicorns coming. lol

2. CanSiamCyp says:

   August 2, 2022 at 7:23 pm

   James:

   https://www.enbridge.com/media-center/news/details?id=123732&lang=en

   CALGARY, AB, Aug. 2, 2022 /CNW/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it does not intend to exercise its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series L (Series L Shares) (TSX: ENB.PF.U) on September 1, 2022. As a result, subject to certain conditions, the holders of the Series L Shares have the right to convert all or part of their Series L Shares on a one-for-one basis into Cumulative Redeemable Preference Shares, Series M of Enbridge (Series M Shares) on September 1, 2022. Holders who do not exercise their right to convert their Series L Shares into Series M Shares will retain their Series L Shares.

   The foregoing conversion right is subject to the conditions that: (i) if Enbridge determines that there would be less than 1,000,000 Series L Shares outstanding after September 1, 2022, then all remaining Series L Shares will automatically be converted into Series M Shares on a one-for-one basis on September 1, 2022; and (ii) alternatively, if Enbridge determines that there would be less than 1,000,000 Series M Shares outstanding after September 1, 2022, no Series L Shares will be converted into Series M Shares. There are currently 16,000,000 Series L Shares outstanding.

   With respect to any Series L Shares that remain outstanding after September 1, 2022, holders thereof will be entitled to receive quarterly fixed cumulative preferential cash dividends, as and when declared by the Board of Directors of Enbridge. The new annual dividend rate applicable to the Series L Shares for the five-year period commencing on September 1, 2022 to, but excluding, September 1, 2027 will be 5.85790 percent, being equal to the five-year United States Government treasury bond yield of 2.70790 percent determined as of today plus 3.15 percent in accordance with the terms of the Series L Shares.

   Cheers!

3. CanSiamCyp says:

   August 2, 2022 at 7:24 pm

   James:

   https://money.tmx.com/en/quote/MFC/news/8125551880955636/Manulife_Financial_Corporation_announces_Conversion_Privilege_of_Noncumulative_Rate_Reset_Class_1_Shares_Series_9

   TORONTO , Aug. 2, 2022 /CNW/ – Manulife Financial Corporation (“Manulife”) today announced that it does not intend to exercise its right to redeem all or any of its currently outstanding 10,000,000 Non-cumulative Rate Reset Class 1 Shares Series 9 (the “Series 9 Preferred Shares”) (TSX: MFC.PR.I) on September 19, 2022. As a result, subject to certain conditions described in the prospectus supplement dated May 16, 2012 relating to the issuance of the Series 9 Preferred Shares (the “Prospectus”), the holders of the Series 9 Preferred Shares have the right, at their option, to convert all or part of their Series 9 Preferred Shares on a one-for-one basis into Non-cumulative Floating Rate Class 1 Shares Series 10 of Manulife (the “Series 10 Preferred Shares”) on September 19, 2022 . A formal notice of the right to convert Series 9 Preferred Shares into Series 10 Preferred Shares will be sent to the registered holders of the Series 9 Preferred Shares in accordance with the share conditions of the Series 9 Preferred Shares. Holders of Series 9 Preferred Shares are not required to elect to convert all or any part of their Series 9 Preferred Shares into Series 10 Preferred Shares. Holders who do not exercise their right to convert their Series 9 Preferred Shares into Series 10 Preferred Shares on such date will retain their Series 9 Preferred Shares, unless automatically converted in accordance with the conditions below.

   Cheers!

4. ENB.PF.U To Reset at 5.8579% « PrefBlog says:

   August 2, 2022 at 10:34 pm

   […] Thanks to Assiduous Reader CanSiamCyp for bringing this to my attention! […]

5. MFC.PR.I To Be Extended « PrefBlog says:

   August 2, 2022 at 11:36 pm

   […] Thanks to Assiduous Reader CanSiamCyp for bringing this to my attention. […]