{"id":32776,"date":"2016-03-18T01:23:44","date_gmt":"2016-03-18T06:23:44","guid":{"rendered":"http:\/\/prefblog.com\/?p=32776"},"modified":"2016-03-18T01:23:44","modified_gmt":"2016-03-18T06:23:44","slug":"gmp-pr-b-gmp-pr-c-22-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32776","title":{"rendered":"GMP.PR.B \/ GMP.PR.C : 22% Conversion To FloatingReset"},"content":{"rendered":"<p>GMP Capital Inc. <a href=\"http:\/\/gmpcapital.com\/Investor-Relations\/Newsroom\/ArticleId\/270\/gmp-capital-inc-announces-results-of-the-conversion-privilege-of-its-cumulative-5-year-rate-reset-preferred-shares-series-b-and-listing-of-cumulative-floating-rate-preferred-shares-series-c\">has announced<\/a>:<\/p>\n<blockquote><p>that 1,034,747 of its outstanding 4,600,000 Cumulative 5-Year Rate Reset Preferred Shares, Series B of the Corporation (the Series B Shares) have been tendered for conversion on March 31, 2016, on a one-for-one basis, into Cumulative Floating Rate Preferred Shares, Series C of the Corporation (the Series C Shares). As a result, on March 31, 2016, the Corporation will have 3,565,253 Series B Shares and 1,034,747 Series C Shares issued and outstanding.<\/p>\n<p>The Series B Shares will continue to be listed on the Toronto Stock Exchange under the symbol \u201cGMP.PR.B\u201d. The Series C Shares will be listed on the Toronto Stock Exchange on April 1, 2016, under the symbol \u201cGMP.PR.C\u201d.<\/p><\/blockquote>\n<p>Assiduous Readers will remember that GMP.PR.B will <a href=\"http:\/\/prefblog.com\/?p=32563\">reset to 3.611%<\/a>, while the FloatingReset issue, GMP.PR.C, will pay 3-Month T-Bills + 289bp, reset quarterly. I <a href=\"http:\/\/prefblog.com\/?p=32714\">recommended against conversion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GMP Capital Inc. has announced: that 1,034,747 of its outstanding 4,600,000 Cumulative 5-Year Rate Reset Preferred Shares, Series B of the Corporation (the Series B Shares) have been tendered for conversion on March 31, 2016, &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-32776","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32776","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=32776"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32776\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}