{"id":32314,"date":"2016-02-02T02:41:32","date_gmt":"2016-02-02T07:41:32","guid":{"rendered":"http:\/\/prefblog.com\/?p=32214"},"modified":"2016-02-02T02:41:32","modified_gmt":"2016-02-02T07:41:32","slug":"trp-pr-i-listed-no-trading-wide-spread","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32314","title":{"rendered":"TRP.PR.I Listed: No Trading, Wide Spread"},"content":{"rendered":"<p>TransCanada Corporation <a href=\"http:\/\/www.transcanada.com\/news-releases-article.html?id=2021400&#038;t=\">has announced<\/a>:<\/p>\n<blockquote><p> that 1,285,739 of its 14,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 5 (Series 5 Shares) were tendered for conversion today, on a one-for-one basis, into floating rate Cumulative Redeemable First Preferred Shares, Series 6 (Series 6 Shares). As a result of the conversion, TransCanada has 12,714,261 Series 5 Shares and 1,285,739 Series 6 Shares issued and outstanding. The Series 5 Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol TRP.PR.C. The Series 6 Shares will begin trading on the TSX today under the symbol TRP.PR.I.<\/p>\n<p>The Series 5 Shares will continue to pay on a quarterly basis, for the five-year period beginning on January 30, 2016, as and when declared by the Board of Directors of TransCanada, a fixed dividend at an annualized rate of 2.263 per cent.<\/p>\n<p>The Series 6 Shares will pay a floating rate quarterly dividend for the five-year period beginning on February 1, 2016, as and when declared by the Board of Directors of TransCanada. The dividend rate for the Series 6 Shares for the first quarterly floating rate period commencing February 1, 2016 to, but excluding April 30, 2016, is 2.037 per cent and will be reset every quarter.<\/p>\n<p>For more information on the terms of, and risks associated with an investment in, the Series 5 Shares and the Series 6 Shares, please see the Corporation&#8217;s prospectus supplement dated June 17, 2010 which can be found under the Corporation&#8217;s profile on SEDAR at www.sedar.com.<\/p><\/blockquote>\n<p>TRP.PR.I is a FloatingReset, Bills+154bp, resulting from the <a href=\"http:\/\/prefblog.com\/?p=32090\">9% conversion from TRP.PR.C<\/a>, which has <a href=\"http:\/\/prefblog.com\/?p=31790\">reset at 2.263%<\/a>. The issue will be tracked by HIMIPref&trade; and has been assigned to the FloatingReset subindex. The two issues constitute a <a href=\"http:\/\/prefblog.com\/?p=1378\">Strong Pair<\/a>.<\/p>\n<p>The issue traded no shares today and closed at 9.00-17.50 (!), 5&#215;50.<\/p>\n<p>Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>TRP.PR.I<\/td>\n<td>FloatingReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2046-02-01<br \/>\nMaturity Price  : 9.00<br \/>\nEvaluated at bid price : 9.00<br \/>\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TransCanada Corporation has announced: that 1,285,739 of its 14,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 5 (Series 5 Shares) were tendered for conversion today, on a one-for-one basis, into floating rate Cumulative Redeemable &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-32314","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32314","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=32314"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32314\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}