{"id":47364,"date":"2024-09-18T21:18:27","date_gmt":"2024-09-19T02:18:27","guid":{"rendered":"https:\/\/prefblog.com\/?p=47364"},"modified":"2024-09-18T21:18:27","modified_gmt":"2024-09-19T02:18:27","slug":"enb-pr-f-enb-pr-g-9-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47364","title":{"rendered":"ENB.PR.F \/ ENB.PR.G : 9% Conversion To FloatingReset"},"content":{"rendered":"<p>Enbridge Inc. <a href=\"https:\/\/www.enbridge.com\/media-center\/news\/details?id=123772&#038;lang=en\">has announced<\/a> (long ago, I am shamed to admit: 2023-5-17):<\/p>\n<blockquote><p>that 1,827,695 of its outstanding Cumulative Redeemable Preference Shares, Series F (Series F Shares) were tendered for conversion, on a one-for-one basis, into Cumulative Redeemable Preference Shares, Series G of Enbridge (Series G Shares), effective on June 1, 2023. As a result, on June 1, 2023, Enbridge will have 18,172,305 Series F Shares and 1,827,695 Series G Shares issued and outstanding.<\/p>\n<p>The Series F Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol ENB.PR.F. The TSX has conditionally approved the listing of the Series G Shares effective upon conversion. The Series G Shares will begin trading on the TSX on June 1, 2023, subject to the fulfillment of all the listing requirements of the TSX.<\/p><\/blockquote>\n<p>ENB.PR.F was issued as a 4.00%+251 FixedReset that <a href=\"http:\/\/prefblog.com\/?p=17604\">commenced trading 2012-1-18<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=17533\">announced 2012-1-9<\/a>. It <a href=\"https:\/\/prefblog.com\/?p=36619\">reset to 4.689%<\/a> in 2018. I <a href=\"https:\/\/prefblog.com\/?p=36665\">recommended against conversion<\/a>; there was <a href=\"https:\/\/prefblog.com\/?p=36707\">no conversion<\/a>. It <a href=\"https:\/\/prefblog.com\/?p=45215\">reset to 5.538%<\/a> in 2023. The issue is tracked by HIMIPref\u2122 but relegated to the Scraps subindex on credit concerns (as of 2023-5-17; <a href=\"https:\/\/prefblog.com\/?p=46997\">upgraded by DBRS to Pfd-2(low)<\/a> in June, 2024).<\/p>\n<p>Thanks to Assiduous Reader GS for bringing this to my attention!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enbridge Inc. has announced (long ago, I am shamed to admit: 2023-5-17): that 1,827,695 of its outstanding Cumulative Redeemable Preference Shares, Series F (Series F Shares) were tendered for conversion, on a one-for-one basis, into &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-47364","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47364","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=47364"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47364\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}