{"id":48385,"date":"2017-05-24T21:31:00","date_gmt":"2017-05-25T01:31:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48385"},"modified":"2025-07-18T21:33:00","modified_gmt":"2025-07-19T01:33:00","slug":"cu-pr-c-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48385","title":{"rendered":"CU.PR.C : No Conversion to FloatingReset"},"content":{"rendered":"

Canadian Utilities Limited has announced<\/a>:<\/p>\n

\n

that after having taken into account all election notices following the conversion deadline for the Cumulative Redeemable Second Preferred Shares Series Y (“Series Y Preferred Shares”) tendered for conversion into Cumulative Redeemable Second Preferred Shares Series Z (“Series Z Preferred Shares”), the holders of Series Y Preferred Shares are not entitled to convert their Series Y Preferred Shares into Series Z Preferred Shares. There were approximately 508,379 Series Y Preferred Shares tendered for conversion, which is less than the two million shares required to give effect to conversions into Series Z Preferred Shares.<\/p>\n

The Series Y Preferred Shares will continue to pay on a quarterly basis, for the five-year period from and including June 1, 2017 to but excluding June 1, 2022, as and when declared by the Board of Directors of Canadian Utilities Limited, a fixed dividend based on an annual dividend rate of 3.40%.<\/p>\n<\/blockquote>\n

Assiduous Readers will remember that I recommended against conversion<\/a> after the reset to 3.40% for CU.PR.C<\/a>.<\/p>\n

So CU.PR.C is now a FixedReset, 3.4O%+240. It is tracked by HIMIPref™ and is assigned to the FixedReset subindex.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian Utilities Limited has announced: that after having taken into account all election notices following the conversion deadline for the Cumulative Redeemable Second Preferred Shares Series Y (“Series Y Preferred Shares”) tendered for conversion into …<\/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-48385","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48385","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=48385"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48385\/revisions"}],"predecessor-version":[{"id":48386,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48385\/revisions\/48386"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}