{"id":42145,"date":"2021-05-08T14:25:14","date_gmt":"2021-05-08T19:25:14","guid":{"rendered":"http:\/\/prefblog.com\/?p=42145"},"modified":"2021-05-08T14:25:14","modified_gmt":"2021-05-08T19:25:14","slug":"cve-pr-a-cve-pr-b-3-net-conversion-to-fixedreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42145","title":{"rendered":"CVE.PR.A \/ CVE.PR.B : 3% Net Conversion to FixedReset"},"content":{"rendered":"<p>Cenovus Energy Inc. <a href=\"https:\/\/www.cenovus.com\/news\/news-releases\/2021\/03-18-2021-cenovus-reports-results-of-series-1-and-series-2-first-preferred-shares-conversion.html\">has announced<\/a> (on March 18):<\/p>\n<blockquote><p>274,160 of its 10,435,932 Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) have been tendered for conversion on March 31, 2021, on a one-for-one basis, into Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares) and 577,882 of its 1,564,068 Series 2 Shares have been tendered for conversion, on a one-for-one basis, into Series 1 Shares.<\/p>\n<p>As of March 31, 2021 Cenovus will have 10,739,654 Series 1 Shares and 1,260,346 Series 2 Shares issued and outstanding. The Series 1 Shares are listed on the Toronto Stock Exchange under the symbol CVE.PR.A and the Series 2 Shares are listed on the Toronto Stock Exchange under the symbol CVE.PR.B.<\/p><\/blockquote>\n<p>CVE.PR.A was <a href=\"http:\/\/prefblog.com\/?p=14481\">issued as HSE.PR.A<\/a>, a FixedReset, 4.45%+173, on 2011-3-18 after being <a href=\"http:\/\/prefblog.com\/?p=14355\">announced 2011-3-10<\/a>. Notice of extension was <a href=\"http:\/\/prefblog.com\/?p=32427\">published in February, 2016<\/a> and the issue <a href=\"http:\/\/prefblog.com\/?p=32542\">reset to 2.404%<\/a>. I <a href=\"http:\/\/prefblog.com\/?p=32711\">recommended against conversion<\/a> but there was a <a href=\"http:\/\/prefblog.com\/?p=32847\">13% conversion to the FloatingReset HSE.PR.B<\/a> anyway. The ticker <a href=\"http:\/\/prefblog.com\/?p=41813\">changed to CVE.PR.A<\/a> following the Plan of Arrangement between HSE and CVE. CVE.PR.A <a href=\"http:\/\/prefblog.com\/?p=42028\">reset to 2.577%<\/a> in 2021.<\/p>\n<p>CVE.PR.B is a FloatingReset, Bills+173, that arose via a <a href=\"http:\/\/prefblog.com\/?p=32847\">partial conversion from HSE.PR.A to HSE.PR.B<\/a> in 2016. The ticker <a href=\"http:\/\/prefblog.com\/?p=41813\">changed to CVE.PR.B<\/a> following the Plan of Arrangement between HSE and CVE.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cenovus Energy Inc. has announced (on March 18): 274,160 of its 10,435,932 Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) have been tendered for conversion on March 31, 2021, on a one-for-one basis, &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-42145","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42145","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=42145"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42145\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}