{"id":43588,"date":"2022-06-12T14:15:49","date_gmt":"2022-06-12T19:15:49","guid":{"rendered":"https:\/\/prefblog.com\/?p=43588"},"modified":"2022-06-12T14:15:49","modified_gmt":"2022-06-12T19:15:49","slug":"bir-pr-a-bir-pr-c-intention-to-redeem","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43588","title":{"rendered":"BIR.PR.A &#038; BIR.PR.C : Intention to Redeem"},"content":{"rendered":"<p>Birchcliff Energy Ltd. <a href=\"https:\/\/www.birchcliffenergy.com\/sites\/default\/files\/docs\/News%20Releases\/2022\/Q1%202022%20Report%20FINAL.pdf\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>\u2022 Subject to the approval of Birchcliff\u2019s board of directors, Birchcliff currently intends to redeem all of its outstanding Series A and Series C preferred shares at the end of Q3 2022.<\/li>\n<li>\u2022 Birchcliff expects to reach zero total debt in Q4 2022, even after the proposed redemption of its Series A and Series C preferred shares, with an anticipated surplus of $260 million to $280 million at year-end 2022, based on current strip pricing.<\/li>\n<\/ul>\n<\/blockquote>\n<p>BIR.PR.A was issued as a FixedReset, 8.00%+683 that <a href=\"https:\/\/prefblog.com\/?p=22115\">commenced trading 2012-8-8<\/a>. It <a href=\"https:\/\/prefblog.com\/?p=19452#comment-194370\">reset to 8.374%<\/a> in 2017.<\/p>\n<p>BIR.PR.C was issued as a seven-year retractible, 7.00%, that <a href=\"https:\/\/prefblog.com\/?p=22115\">commenced trading in 2013<\/a>.<\/p>\n<p>Neither issue has been tracked by HIMIPref\u2122.<\/p>\n<p>Thanks to Assiduous Reader <i>Dan Good<\/i> for <a href=\"https:\/\/prefblog.com\/?p=19452#comment-201005\">bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Birchcliff Energy Ltd. has announced: \u2022 Subject to the approval of Birchcliff\u2019s board of directors, Birchcliff currently intends to redeem all of its outstanding Series A and Series C preferred shares at the end 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],"tags":[],"class_list":["post-43588","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43588","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=43588"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43588\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}