{"id":42100,"date":"2021-03-20T11:55:31","date_gmt":"2021-03-20T16:55:31","guid":{"rendered":"http:\/\/prefblog.com\/?p=42100"},"modified":"2021-03-20T11:55:31","modified_gmt":"2021-03-20T16:55:31","slug":"ta-pr-d-ta-pr-e-net-5-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42100","title":{"rendered":"TA.PR.D \/ TA.PR.E : Net 5% Conversion To FloatingReset"},"content":{"rendered":"<p>TransAlta Corporation <a href=\"https:\/\/www.prnewswire.com\/news-releases\/transalta-corporation-announces-conversion-results-for-series-a-and-b-preferred-shares-301250675.html\">has announced<\/a> (on March 18):<\/p>\n<blockquote><p>that (i) 1,417,338 of its 10,175,380 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A (&#8220;Series A Shares&#8221;) will be converted on March 31, 2021, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preferred Shares, Series B (&#8220;Series B Shares&#8221;), and (ii) 871,871 of its 1,824,620 currently outstanding Series B Shares will be converted on March 31, 2021, on a one-for-one basis, into Series A Shares.   As a result, on March 31, 2021, the Company will have 9,629,913 Series A Shares issued and outstanding and 2,370,087 Series B Shares issued and outstanding.<\/p>\n<p>The Series A Shares and Series B Shares are currently listed on the Toronto Stock Exchange under the symbols TA.PR.D and TA.PR.E, respectively.<\/p><\/blockquote>\n<p>TA.PR.D was issued as a FixedReset, 4.60%+203, that <a href=\"http:\/\/prefblog.com\/?p=13340\">commenced trading 2010-12-10<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=13220\">announced 2010-12-2<\/a>. In 2016, it <a href=\"http:\/\/prefblog.com\/?p=32554\">reset to 2.709%<\/a>. I <a href=\"http:\/\/prefblog.com\/?p=32731\">recommended against conversion<\/a>, but there was a <a href=\"http:\/\/prefblog.com\/?p=32778\">15% conversion to the FloatingReset<\/a>, TA.PR.E, anyway. The issue <a href=\"http:\/\/prefblog.com\/?p=42038\">reset to 2.877%<\/a> in 2021.<\/p>\n<p>TA.PR.E is a FloatingReset, Bills+203, that arose via a <a href=\"http:\/\/prefblog.com\/?p=32778\">partial conversion from the FixedReset<\/a>, TA.PR.D. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>TransAlta Corporation has announced (on March 18): that (i) 1,417,338 of its 10,175,380 currently outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A (&#8220;Series A Shares&#8221;) will be converted on March 31, 2021, on &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-42100","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42100","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=42100"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42100\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}