{"id":42609,"date":"2021-10-06T18:50:05","date_gmt":"2021-10-06T23:50:05","guid":{"rendered":"http:\/\/prefblog.com\/?p=42609"},"modified":"2021-10-06T18:50:05","modified_gmt":"2021-10-06T23:50:05","slug":"pwf-pr-i-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42609","title":{"rendered":"PWF.PR.I To Be Redeemed"},"content":{"rendered":"<p> Power Corporation of Canada and Power Financial Corporation <a href=\"https:\/\/www.powerfinancial.com\/en\/news\/press-releases\/2021\/power-corporation-and-power-financial-announce-issue-of-power-financial-preferred-shares-122609\/\">have announced<\/a>:<\/p>\n<blockquote><p> Upon completion of the offering, Power Financial intends to redeem all of its outstanding $200 million First Preferred Shares, Series I.<\/p><\/blockquote>\n<p>The offering in the quoted paragraph refers to a <a href=\"http:\/\/prefblog.com\/?p=42607\">today&#8217;s announcement<\/a> of a new issue of 4.50% Straight Perpetuals.<\/p>\n<p>PWF.PR.I is a Straight Perpetual, 6.00%, that commenced trading 2003-3-11. It has been tracked by HIMIPref&trade; and is assigned to the PerpetualPremium subindex.<\/p>\n<p><b>Update, 2021-11-13<\/b>: On October 18, the company <a href=\"https:\/\/www.powerfinancial.com\/en\/news\/press-releases\/2021\/power-financial-announces-redemption-of-preferred-shares-122611\/\">announced<\/a>:<\/p>\n<blockquote><p>that it intends to redeem all 8,000,000 of its outstanding 6.00% Non-Cumulative First Preferred Shares, Series I (the &#8220;Series I Shares&#8221;) on November 22, 2021.<\/p>\n<p>In accordance with the terms of the Series I Shares, the redemption price will be $25.00 per Series I Share (for a total of $200 million) together with any declared and unpaid dividends, net of any tax required to be withheld by the Corporation. A notice of the redemption of the Series I Shares will be provided in accordance with the rights, privileges and conditions attached to the Series I Shares.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Power Corporation of Canada and Power Financial Corporation have announced: Upon completion of the offering, Power Financial intends to redeem all of its outstanding $200 million First Preferred Shares, Series I. The offering in 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-42609","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42609","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=42609"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42609\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}