{"id":41002,"date":"2020-06-17T20:22:26","date_gmt":"2020-06-18T01:22:26","guid":{"rendered":"http:\/\/prefblog.com\/?p=41002"},"modified":"2020-06-17T20:22:26","modified_gmt":"2020-06-18T01:22:26","slug":"bip-pr-a-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41002","title":{"rendered":"BIP.PR.A : No Conversion To FloatingReset"},"content":{"rendered":"<p>Brookfield Infrastructure <a href=\"https:\/\/bip.brookfield.com\/press-releases\/2020\/06-17-2020-221814682\">has announced<\/a>:<\/p>\n<blockquote><p>that after having taken into account all election notices received by the June 15, 2020 deadline for the reclassification of its Cumulative Class A Preferred Limited Partnership Units, Series 1 (the \u201cSeries 1 Units\u201d) (TSX: BIP.PR.A) into Cumulative Class A Preferred Limited Partnership Units, Series 2 (the \u201cSeries 2 Units\u201d), there were 298,234 Series 1 Units tendered for reclassification, which is less than the 1,000,000 units required to give effect to reclassifications of Series 1 Units into Series 2 Units. Accordingly, there will be no reclassification of Series 1 Units into Series 2 Units, and holders of Series 1 Units will retain their Series 1 Units.<\/p><\/blockquote>\n<p>BIP.PR.A is a FixedReset, 4.50%+356, that <a href=\"http:\/\/prefblog.com\/?p=28233\">commenced trading 2015-3-12<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=28096\">announced 2015-3-4<\/a>. The issue will <a href=\"http:\/\/prefblog.com\/?p=40935\">reset to 3.974%<\/a> effective 2020-7-1. It is tracked by HIMIPref&trade; and is assigned to the FixedResets (Discount) subindex.<\/p>\n<p>Note that the tax treatment of distributions on BIP.PR.A are <a href=\"https:\/\/bip.brookfield.com\/~\/media\/Files\/B\/Brookfield-BIP-IR-V2\/2019%20tax%20KW%202\/2019%20Canadian%20Taxable%20Income%20Calculation%20Preferred%20-%20Series%201.pdf\">complex and change annually<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Infrastructure has announced: that after having taken into account all election notices received by the June 15, 2020 deadline for the reclassification of its Cumulative Class A Preferred Limited Partnership Units, Series 1 (the &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-41002","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41002","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=41002"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41002\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}