{"id":1049,"date":"2007-08-10T20:00:25","date_gmt":"2007-08-11T00:00:25","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1049"},"modified":"2007-08-10T20:00:25","modified_gmt":"2007-08-11T00:00:25","slug":"epepre-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1049","title":{"rendered":"EPE.PR.A to be redeemed"},"content":{"rendered":"<p>EPCOR Preferred Equity <a href=\"http:\/\/www.newswire.ca\/en\/releases\/archive\/August2007\/10\/c6012.html\">has announced<\/a> (and its parent, EPCOR, <a href=\"http:\/\/www.newswire.ca\/en\/releases\/archive\/August2007\/10\/c6015.html\">has confirmed<\/a>, in case anybody&#8217;s worried there&#8217;s a rogue treasurer on the loose):<\/p>\n<blockquote><p>its intention to redeem all of the outstanding Cumulative Redeemable First Preferred Shares, Series I (&#8220;the Preferred Shares&#8221;) on September 30, 2007 at a redemption price of $25.00 per Preferred Share. The Preferred Shares were issued to investors by EPCOR Preferred Equity Inc. on September 27, 2002.<br \/>\n\u00a0\u00a0\u00a0 EPCOR will fund the redemption from cash balances and funds available under its revolving credit facilities.<\/p><\/blockquote>\n<p>Eight-million of these shares were outstanding, rated Pfd-2(low) by <a href=\"http:\/\/www.dbrs.com\">DBRS<\/a>.<\/p>\n<p>According to <a href=\"http:\/\/www.epcor.ca\/About\/InvestorInformation\/\">EPCOR<\/a>, EPCOR Preferred Equity<\/p>\n<blockquote><p>was established for the purpose of raising equity capital, on a consolidated basis, for EPCOR Utilities Inc., its parent corporation. In turn, the capital is used to provide loan financing to other subsidiaries of EPCOR Utilities Inc.<\/p><\/blockquote>\n<p>This issue has not been included in the HIMIPref\u2122 universe.<\/p>\n<p><b>Update 2007-09-11<\/b>: The headline previously referred to this issue as &#8220;EPE.PR.E&#8221;. This error has now been corrected.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EPCOR Preferred Equity has announced (and its parent, EPCOR, has confirmed, in case anybody&#8217;s worried there&#8217;s a rogue treasurer on the loose): its intention to redeem all of the outstanding Cumulative Redeemable First Preferred Shares, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1049","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1049"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1049\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}