{"id":43368,"date":"2022-05-04T21:02:24","date_gmt":"2022-05-05T02:02:24","guid":{"rendered":"https:\/\/prefblog.com\/?p=43368"},"modified":"2022-05-04T21:02:24","modified_gmt":"2022-05-05T02:02:24","slug":"enb-pr-u-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43368","title":{"rendered":"ENB.PR.U To Be Redeemed"},"content":{"rendered":"<p>Enbridge Inc. <a href=\"https:\/\/www.enbridge.com\/media-center\/news\/details?id=123720&amp;lang=en\">has announced<\/a>:<\/p>\n<blockquote><p>that it has exercised its right to redeem all of its outstanding Cumulative Redeemable Preference Shares, Series J (&#8220;Series J Shares&#8221;) (TSX: ENB.PR.U) on June 1, 2022 at a price of US$25.00 per Series J Share, together with all accrued and unpaid dividends, if any.<\/p>\n<p>Beneficial holders who are not directly the registered holders of the Series J Shares should contact the financial institution, broker or other intermediary through which they hold their Series J Shares to confirm how they will receive their redemption proceeds. Inquiries from registered shareholders should be directed to Enbridge&#8217;s Registrar and Transfer Agent, Computershare Investor Services Inc., at 1-800-564-6253 (Canada and United States) or 1-514-982-7555 (Outside North America).<\/p><\/blockquote>\n<p>ENB.PR.U is a FixedReset, 4.00%+305, US-Pay, that <a href=\"https:\/\/prefblog.com\/?p=18428\">commenced trading 2012-4-19<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=18338\">announced 2012-4-10<\/a>. The issue <a href=\"https:\/\/www.enbridge.com\/investment-center\/reports-and-sec-filings\/~\/media\/Enb\/Documents\/Investor%20Relations\/2018\/2017_ENB_AnnualReport_Full_optimized.pdf\">reset to 4.89%<\/a> in 2017.<\/p>\n<p>Thanks to Assiduous Reader <i>skeptical<\/i> for <a href=\"https:\/\/prefblog.com\/?p=43361#comment-199623\">ensuring I was aware<\/a> of this redemption.<\/p>\n<p>The market was certainly not expecting this, as ENB.PR.U was up 13.65% on the day to close at 25.23 and related issues &#8211; denominated in USD &#8211; performed similarly well: ENB.PR.V up 9.48% to 24.26; ENB.PF.U up 10.79% to 24.54; and ENB.PF.V up 9.88% to 22.80; all hitting new 52-week highs on the day.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enbridge Inc. has announced: that it has exercised its right to redeem all of its outstanding Cumulative Redeemable Preference Shares, Series J (&#8220;Series J Shares&#8221;) (TSX: ENB.PR.U) on June 1, 2022 at a price of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,31],"tags":[],"class_list":["post-43368","post","type-post","status-publish","format-standard","hentry","category-issue-comments","category-us-pay"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43368","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=43368"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43368\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}