{"id":29511,"date":"2015-06-19T20:33:09","date_gmt":"2015-06-20T01:33:09","guid":{"rendered":"http:\/\/prefblog.com\/?p=29511"},"modified":"2015-06-19T20:33:09","modified_gmt":"2015-06-20T01:33:09","slug":"slf-pr-g-slf-pr-j-50-conversion-to-floatingresets","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=29511","title":{"rendered":"SLF.PR.G \/ SLF.PR.J: 50% Conversion to FloatingResets"},"content":{"rendered":"<p>Sun Life Financial Inc. <a href=\"http:\/\/www.sunlife.com\/Global\/News+and+insights\/News\/News+releases\/2015\/Sun+Life+Financial+Reports+Results+of+Conversion+Privilege+of+Class+A+NonCumulative+Rate+Reset+Preferred+Shares+Series+8R?vgnLocale=en_CA&#038;id=122940\">has announced<\/a>:<\/p>\n<blockquote><p> that 6,007,314 of its 11,200,000 Class A Non-cumulative Rate Reset Preferred Shares Series 8R (the &#8220;Series 8R Shares&#8221;) have been elected for conversion on June 30, 2015, on a one-for-one basis, into Class A Non-cumulative Floating Rate Preferred Shares Series 9QR (the &#8220;Series 9QR Shares&#8221;). Consequently, on June 30, 2015, Sun Life Financial will have 5,192,686 Series 8R Shares and 6,007,314 Series 9QR Shares issued and outstanding. The Series 8R Shares and Series 9QR Shares will be listed on the Toronto Stock Exchange under the symbols SLF.PR.G and SLF.PR.J, respectively.<\/p>\n<p>Subject to regulatory approval, Sun Life Financial may redeem the Series 8R Shares and the Series 9QR Shares in whole or in part on June 30, 2020 and on the 30th of June every five years thereafter.<\/p><\/blockquote>\n<p>The conversion rate is much higher than the most recent conversion, FTS.PR.H \/ FTS.PR.I, in which <a href=\"http:\/\/prefblog.com\/?p=29287\">a 30% conversion was seen<\/a>.<\/p>\n<p>And the conversion rate flies in the face of my <a href=\"http:\/\/prefblog.com\/?p=29407\">recommendation to hold SLF.PR.G, the FixedReset<\/a>. Oh well, we&#8217;ll see how it turns out.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sun Life Financial Inc. has announced: that 6,007,314 of its 11,200,000 Class A Non-cumulative Rate Reset Preferred Shares Series 8R (the &#8220;Series 8R Shares&#8221;) have been elected for conversion on June 30, 2015, on a &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-29511","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29511","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=29511"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29511\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}