{"id":48455,"date":"2017-05-25T10:42:00","date_gmt":"2017-05-25T14:42:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48455"},"modified":"2025-07-21T10:44:45","modified_gmt":"2025-07-21T14:44:45","slug":"enb-pr-b-8-conversion-to-floatingresets","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48455","title":{"rendered":"ENB.PR.B : 8% Conversion To FloatingResets"},"content":{"rendered":"<p>In keeping with its policy of contempt for the preferred shareholders who provide a chunk of its financing, Enbridge has again decided not to publicize events related to its ENB.PR.B issue, its extension, reset and conversion privilege.<\/p>\n<p>Assiduous Readers will recall that <a href=\"https:\/\/prefblog.com\/?p=34809\">ENB.PR.B will reset to 3.415% effective 2017-6-1<\/a>. It was issued as a 4.00%+240 FixedReset which <a href=\"https:\/\/prefblog.com\/?p=16532\">commenced trading 2011-9-30<\/a> after being <a href=\"https:\/\/prefblog.com\/?p=16434\">announced 2011-9-21<\/a>.<\/p>\n<p>An inquiry to Enbridge Investor Relations elicited the response:<\/p>\n<blockquote>\n<p>Approximately 1.7 million Series B will be converted into Cs and those Cs will start to trade on the TSX on June 1.<\/p>\n<\/blockquote>\n<p>It will be remembered that <a href=\"https:\/\/prefblog.com\/?p=34832\">I recommended against conversion<\/a>.<\/p>\n<p>Market conditions with respect to FixedReset \/ FloatingReset equivalency have not changed significantly since my recommendation:<\/p>\n<div align=\"center\"><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2017\/05\/pairs_FR_170525.jpg\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/prefblog.com\/wp-content\/uploads\/2017\/05\/pairs_FR_170525-300x222.jpg\" alt=\"pairs_fr_170525\" width=\"400\" height=\"296\" class=\"alignnone size-medium wp-image-34889\" ><\/a><br \/><i>Click for Big<\/i><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In keeping with its policy of contempt for the preferred shareholders who provide a chunk of its financing, Enbridge has again decided not to publicize events related to its ENB.PR.B issue, its extension, reset and &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-48455","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48455","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=48455"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48455\/revisions"}],"predecessor-version":[{"id":48456,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48455\/revisions\/48456"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}