{"id":48826,"date":"2017-10-03T20:55:00","date_gmt":"2017-10-04T00:55:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48826"},"modified":"2025-07-25T20:56:49","modified_gmt":"2025-07-26T00:56:49","slug":"vnr-pr-a-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48826","title":{"rendered":"VNR.PR.A : No Conversion to FloatingReset"},"content":{"rendered":"<p> Valener Inc. <a href=\"http:\/\/www.valener.com\/valener-announces-result-of-conversion-notice-on-cumulative-rate-reset-preferred-shares-series-a\/?lang=en\">has announced<\/a>:<\/p>\n<blockquote><p> that, after having taken into account all conversion notices received from holders of its outstanding Cumulative Rate Reset Preferred Shares, Series A (\u201cSeries A Shares\u201d) by the September 29, 2017 deadline for the conversion of the Series A Shares into Cumulative Floating Rate Preferred Shares, Series B (\u201cSeries B Shares\u201d), less than the 1,000,000 Series A Shares required to give effect to conversions into Series B Shares were tendered for conversion. As a result, none of Valener\u2019s Series A Shares will be converted into Series B Shares on October 15, 2017.<\/p>\n<\/blockquote>\n<p>It will be recalled that <a href=\"http:\/\/prefblog.com\/?p=35465\">VNR.PR.A will reset to 4.62%<\/a> effective 2017-10-15 and will henceforth be referred to as a FixedReset, 4.62%+281. It <a href=\"http:\/\/prefblog.com\/?p=18836\">commenced trading 2012-6-6<\/a> as a FixedReset, 4.35%+281, after being <a href=\"http:\/\/prefblog.com\/?p=18645\">announced 2012-5-15<\/a>. The issue is tracked by HIMIPref&trade; and has been assigned to the FixedReset subindex.<\/p>\n<p>I <a href=\"http:\/\/prefblog.com\/?p=35500\">recommended against conversion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Valener Inc. has announced: that, after having taken into account all conversion notices received from holders of its outstanding Cumulative Rate Reset Preferred Shares, Series A (\u201cSeries A Shares\u201d) by the September 29, 2017 deadline &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-48826","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48826","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=48826"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48826\/revisions"}],"predecessor-version":[{"id":48827,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48826\/revisions\/48827"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}