{"id":33083,"date":"2016-05-25T00:21:41","date_gmt":"2016-05-25T05:21:41","guid":{"rendered":"http:\/\/prefblog.com\/?p=33083"},"modified":"2016-05-25T00:21:41","modified_gmt":"2016-05-25T05:21:41","slug":"ciu-pr-c-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33083","title":{"rendered":"CIU.PR.C: No Conversion To FloatingReset"},"content":{"rendered":"<p>CU Inc. <a href=\"http:\/\/canadianutilities.mwnewsroom.com\/Files\/b0\/b0f0b47a-1a06-499d-a009-607a038c538e.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that after having taken into account all election notices following the May 17, 2016 conversion deadline for the Cumulative Redeemable Preferred Shares Series 4 (\u201cSeries 4 Preferred Shares\u201d) tendered for conversion into Cumulative Redeemable Preferred Shares Series 5 (\u201cSeries 5 Preferred Shares\u201d), the holders of Series 4 Preferred Shares are not entitled to convert their Series 4 Preferred Shares into Series 5 Preferred Shares. There were approximately 204,540 Series 4 Preferred Shares tendered for conversion, which is less than the one million shares required to give effect to conversions into Series 5 Preferred Shares.<\/p>\n<p>The Series 4 Preferred Shares will continue to pay on a quarterly basis, for the five-year period beginning on June 1, 2016, as and when declared by the Board of Directors of CU Inc., a fixed dividend based on an annual dividend rate of 2.24%.<\/p>\n<p>For more information on the terms of, and risks associated with an investment in, the Series 4 Preferred Shares, please see CU Inc.\u2019s short form prospectus dated November 24, 2010, which can be found under CU Inc.\u2019s profile on SEDAR at www.sedar.com.<\/p><\/blockquote>\n<p>It will be remembered that CIU.PR.C is a FixedReset that <a href=\"http:\/\/prefblog.com\/?p=13241\">commenced trading 2010-12-2<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=13007\">announced 2010-11-16<\/a>. It resets at +136 and will <a href=\"http:\/\/prefblog.com\/?p=33002\">commence paying 2.24% on 2016-6-1<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CU Inc. has announced: that after having taken into account all election notices following the May 17, 2016 conversion deadline for the Cumulative Redeemable Preferred Shares Series 4 (\u201cSeries 4 Preferred Shares\u201d) tendered for conversion &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-33083","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33083","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=33083"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33083\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}