{"id":23052,"date":"2013-09-13T12:51:15","date_gmt":"2013-09-13T16:51:15","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23052"},"modified":"2013-09-13T12:51:15","modified_gmt":"2013-09-13T16:51:15","slug":"tca-pr-x-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23052","title":{"rendered":"TCA.PR.X To Be Redeemed"},"content":{"rendered":"<p>TransCanada Corporation <a href=\"http:\/\/www.transcanada.com\/news-releases-article.html?id=1759724\">has announced<\/a>:<\/p>\n<blockquote><p> that TransCanada PipeLines Limited (the &#8220;Company&#8221;) authorized the redemption of all the Company&#8217;s four million outstanding 5.60 per cent Cumulative Redeemable First Preferred Shares Series U (Series U Shares) on October 15, 2013. The Series U Shares will be redeemed at a price of $50 per share plus $0.5907 representing accrued and unpaid dividends to such redemption date. The total face value of the outstanding Series U Shares is $200 million and they carry an aggregate of $11.2 million in annualized dividends.<\/p>\n<p>The redemption of the Series U Shares will be administered by Computershare Trust Company of Canada. The Series U Shares trade on the Toronto Stock Exchange under the symbol TCA.Pr.X.<\/p><\/blockquote>\n<p><b>Update<\/b>: Now, why would TransCanada redeem these shares when they&#8217;ve gone out of style recently? Well &#8230; have a look at <a href=\"http:\/\/www.sedar.com\">SEDAR<\/a> and particularly the Preliminary Short Form Prospectus issues September 9 &#8230; I&#8217;m not allowed to link to this document directly, because the Canadian Securities Administrators, many of whom will eventually get new jobs at the banks and CDS, have awarded a monopoly on the electronic publication of public securities documents to CDS; CDS, naturally, abuses this monopoly by refusing to allow external links to this public information.<\/p>\n<p>Anyway, this prospectus is for more MTNs. On July 19 they issued $300-million of debentures priced at 99.521 with a coupon of 4.55% &#8230; and TCA.PR.X has a coupon of 5.6% &#8230; and that 5.6% is dividends &#8230;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TransCanada Corporation has announced: that TransCanada PipeLines Limited (the &#8220;Company&#8221;) authorized the redemption of all the Company&#8217;s four million outstanding 5.60 per cent Cumulative Redeemable First Preferred Shares Series U (Series U Shares) on October &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-23052","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23052","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=23052"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23052\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}