{"id":41249,"date":"2020-08-17T21:01:29","date_gmt":"2020-08-18T02:01:29","guid":{"rendered":"http:\/\/prefblog.com\/?p=41249"},"modified":"2020-08-17T21:01:29","modified_gmt":"2020-08-18T02:01:29","slug":"ema-pr-a-ema-pr-b-17-net-conversion-to-fixedreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41249","title":{"rendered":"EMA.PR.A \/ EMA.PR.B : 17% Net Conversion To FixedReset"},"content":{"rendered":"<p>Emera Incorporated <a href=\"http:\/\/investors.emera.com\/file\/Index?KeyFile=405003287\">has announced<\/a>:<\/p>\n<blockquote><p>that 128,610 of its 3,864,636 issued and outstanding Cumulative Rate Reset First Preferred Shares, Series A (the \u201cSeries A Shares\u201d) were tendered for conversion, on a one-for-one basis, into Cumulative Floating Rate First Preferred Shares, Series B (the \u201cSeries B Shares\u201d) and that 1,130,788 of its 2,135,364 issued and outstanding Series B Shares were tendered for conversion, on a one-of-one basis, into Series A Shares. As a result of the conversion, Emera has 4,866,814 Series A Shares and 1,133,186 Series B Shares issued and outstanding. The Series A Shares and the Series B Shares will continue to be listed on the Toronto Stock Exchange (&#8220;TSX&#8221;) under the symbols EMA.PR.A and EMA.PR.B, respectively.<\/p><\/blockquote>\n<p>EMA.PR.A was issued as a FixedReset, 4.40%+184, that <a href=\"http:\/\/prefblog.com\/?p=11055\">commenced trading 2010-6-2<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=10973\">announced 2010-5-25<\/a>. Extension was <a href=\"http:\/\/prefblog.com\/?p=29658\">announced in 2015<\/a> and a <a href=\"http:\/\/prefblog.com\/?p=29821\">reset to 2.555%<\/a> announced. I <a href=\"http:\/\/prefblog.com\/?p=29954\">receommended against conversion<\/a>, but there was a <a href=\"http:\/\/prefblog.com\/?p=30181\">36% conversion to EMA.PR.B<\/a> anyway. Notice of extension was <a href=\"http:\/\/prefblog.com\/?p=41112\">provided on 2020-7-9<\/a>. EMA.PR.A <a href=\"http:\/\/prefblog.com\/?p=41145\">reset at 2.182%<\/a> effective 2020-8-15.<\/p>\n<p>EMA.PR.B is a FloatingReset, Bills+184, that became extant in 2015 via a <a href=\"http:\/\/prefblog.com\/?p=30181\">36% conversion from EMA.PR.A<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Emera Incorporated has announced: that 128,610 of its 3,864,636 issued and outstanding Cumulative Rate Reset First Preferred Shares, Series A (the \u201cSeries A Shares\u201d) were tendered for conversion, on a one-for-one basis, into Cumulative Floating &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-41249","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41249","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=41249"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41249\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}