{"id":44853,"date":"2023-02-17T19:33:46","date_gmt":"2023-02-18T00:33:46","guid":{"rendered":"https:\/\/prefblog.com\/?p=44853"},"modified":"2023-02-17T19:33:46","modified_gmt":"2023-02-18T00:33:46","slug":"enb-pr-d-no-conversion-to-floatingreset-2","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44853","title":{"rendered":"ENB.PR.D : No Conversion to FloatingReset"},"content":{"rendered":"<p>Enbridge Inc. <a href=\"https:\/\/www.enbridge.com\/media-center\/news\/details?id=123756&amp;lang=en\">has announced<\/a> (on 2023-2-14):<\/p>\n<blockquote><p>that none of its outstanding Cumulative Redeemable Preference Shares, Series D (Series D Shares) will be converted into Cumulative Redeemable Preference Shares, Series E (Series E Shares) on March 1, 2023.<\/p>\n<p>After taking into account all conversion notices received from holders of its outstanding Series D Shares by the February 14, 2023 deadline for the conversion of the Series D Shares into Series E Shares, less than the 1,000,000 Series D Shares required to give effect to conversions into Series E Shares were tendered for conversion.<\/p><\/blockquote>\n<p>ENB.PR.D is a FixedReset, 4.00%+237, that <a href=\"https:\/\/prefblog.com\/?p=17109\">commenced trading 2011-11-23<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=17039\">announced 2011-11-14<\/a>. It <a href=\"https:\/\/prefblog.com\/?p=36169\">reset to 4.46%<\/a> in 2018; I <a href=\"https:\/\/prefblog.com\/?p=36221\">recommended against conversion<\/a>; and there was <a href=\"https:\/\/prefblog.com\/?p=36268\">no conversion<\/a>. ENB.PR.D will <a href=\"https:\/\/prefblog.com\/?p=44728\">reset to 5.412%<\/a> effective 2023-3-1. The issue is tracked by HIMIPref\u2122 but relegated to the Scraps &#8211; FixedReset (Discount) subindex due to credit concerns.<\/p>\n<p><b>Update, 2023-2-18<\/b>: An earlier version of this post quoted from and linked to the incorrect press release! This has been corrected &#8211; sorry about that!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enbridge Inc. has announced (on 2023-2-14): that none of its outstanding Cumulative Redeemable Preference Shares, Series D (Series D Shares) will be converted into Cumulative Redeemable Preference Shares, Series E (Series E Shares) on March &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-44853","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44853","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=44853"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44853\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}