{"id":41743,"date":"2020-12-17T18:31:48","date_gmt":"2020-12-17T23:31:48","guid":{"rendered":"http:\/\/prefblog.com\/?p=41743"},"modified":"2020-12-17T18:31:48","modified_gmt":"2020-12-17T23:31:48","slug":"cpx-pr-a-no-conversion-to-floatingreset-2","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41743","title":{"rendered":"CPX.PR.A : No Conversion To FloatingReset"},"content":{"rendered":"<p>Capital Power Corporation <a href=\"https:\/\/www.capitalpower.com\/media\/media_releases\/capital-power-announces-conversion-results-for-its-preferred-shares-series-1-2\/\">has announced<\/a>:<\/p>\n<blockquote><p>that after having taken into account all Election Notices following the December 16, 2020 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 1 (Series 1 Shares) tendered for conversion into Cumulative Floating Rate Preference Shares, Series 2 (Series 2 Shares), the holders of Series 1 Shares were not entitled to convert their shares. There were 687,245 Series 1 Shares tendered for conversion, which was less than the required one million shares required for conversion into Series 2 Shares.<\/p>\n<p>There are five million Series 1 Shares listed on the Toronto Stock Exchange (TSX) under the symbol CPX.PR.A. Effective December 31, 2020, the Annual Fixed Dividend Rate for the next five-year period has been reset to 2.62100%.<\/p>\n<p>For more information on the terms of, and risks associated with an investment in the Series 1 Shares, please see Capital Power\u2019s (final) short form prospectus dated December 8, 2010 which is available on sedar.com or on Capital Power\u2019s website at capitalpower.com.<\/p><\/blockquote>\n<p>CPX.PR.A was issued as a FixedReset 4.60%+217 that <a href=\"http:\/\/prefblog.com\/?p=13402\">commenced trading 2010-12-16<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=13193\">announced 2010-12-1<\/a>. It <a href=\"http:\/\/prefblog.com\/?p=31418\">reset to 3.06%<\/a> effective 2015-12-31 and I <a href=\"http:\/\/prefblog.com\/?p=31559\">recommended against conversion<\/a>; there was <a href=\"http:\/\/prefblog.com\/?p=31682\">no conversion to FloatingResets<\/a>. It will <a href=\"http:\/\/prefblog.com\/?p=41664\">reset to 2.621%<\/a> effective 2020-12-31. The issue is tracked by HIMIPref&trade; but is relegated to the Scraps &#8211; FixedReset (Discount) subindex on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Capital Power Corporation has announced: that after having taken into account all Election Notices following the December 16, 2020 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 1 (Series 1 Shares) &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-41743","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41743","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=41743"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41743\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}