{"id":49405,"date":"2018-06-19T19:53:00","date_gmt":"2018-06-19T23:53:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49405"},"modified":"2025-08-15T19:55:36","modified_gmt":"2025-08-15T23:55:36","slug":"cpx-pr-e-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49405","title":{"rendered":"CPX.PR.E : No Conversion to FloatingReset"},"content":{"rendered":"

Capital Power Corporation has announced<\/a> (on June 18):<\/p>\n

\n

that after having taken into account all Election Notices following the June 15, 2018 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 5 (Series 5 Shares) tendered for conversion into Cumulative Floating Rate Preference Shares, Series 6 (Series 6 Shares), the holders of Series 5 Shares were not entitled to convert their shares. There were approximately 236,824 Series 5 Shares tendered for conversion, which was less than the required one million shares required for conversion into Series 6 Shares. <\/p>\n

There are eight million Series 5 Shares listed on the Toronto Stock Exchange (TSX) under the symbol CPX.PR.E. Effective June 30, 2018, the Annual Fixed Dividend Rate for the next five-year period has been reset to 5.23800%. <\/p>\n

For more information on the terms of, and risks associated with an investment in the Series 5 Shares, please see Capital Power\u2019s prospectus supplement dated March 7, 2013 which is available on sedar.com or on Capital Power’s website at capitalpower.com.<\/p>\n<\/blockquote>\n

It will be recalled that CPX.PR.E will reset to 5.238%<\/a> effective 2018-6-30 and will hence be referred to as a FixedReset, 5.238%+315. <\/p>\n

CPX.PR.E is a FixedReset, 5.238%+315, that commenced trading 2013-3-14 at 4.50%<\/a> after being announced 2013-3-5<\/a>. It is tracked by HIMIPref™ but relegated to the Scraps subindex on credit concerns.<\/p>\n

It will be further recalled that I recommended against conversion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Capital Power Corporation has announced (on June 18): that after having taken into account all Election Notices following the June 15, 2018 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 5 …<\/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-49405","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49405","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=49405"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49405\/revisions"}],"predecessor-version":[{"id":49406,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49405\/revisions\/49406"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}