{"id":49577,"date":"2018-08-08T21:56:00","date_gmt":"2018-08-09T01:56:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49577"},"modified":"2025-08-21T21:58:34","modified_gmt":"2025-08-22T01:58:34","slug":"ema-pr-c-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49577","title":{"rendered":"EMA.PR.C : No Conversion to FloatingReset"},"content":{"rendered":"<p>Emera Incorporated <a href=\"http:\/\/investors.emera.com\/file.aspx?IID=4072693&amp;FID=394562750\">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 First Preferred Shares, Series C (the \u201cSeries C Shares\u201d) by the July 31, 2018 deadline for conversion notices, less than the 1,000,000 Series C Shares required to give effect to conversions into Cumulative Floating Rate First Preferred Shares, Series D (the \u201cSeries D Shares\u201d) were tendered for conversion. As a result, none of Emera\u2019s outstanding Series C Shares will be converted into Series D Shares on August 15, 2018. The Series C Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol EMA.PR.C.<\/p>\n<\/blockquote>\n<p>It will be recalled that after <a href=\"http:\/\/prefblog.com\/?p=36910\">notice of extension<\/a> the <a href=\"http:\/\/prefblog.com\/?p=36941\">rate was reset to 4.721%<\/a> and that I <a href=\"http:\/\/prefblog.com\/?p=36960\">recommended against conversion<\/a>. <\/p>\n<p>EMA.PR.C was issued as a FixedReset, 4.10%+265, that <a href=\"http:\/\/prefblog.com\/?p=18856\">commenced trading 2012-6-7<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=18744\">announced 2012-5-29<\/a>. DBRS <a href=\"http:\/\/prefblog.com\/?p=33134\">discontinued coverage of Emera in June, 2016<\/a>. The preferreds are rated P-2(low) by S&#038;P. It is tracked by HIMIPref&trade; and is assigned to the FixedReset subindex.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Emera Incorporated has announced: that after having taken into account all conversion notices received from holders of its outstanding Cumulative Rate Reset First Preferred Shares, Series C (the \u201cSeries C Shares\u201d) by the July 31, &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-49577","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49577","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=49577"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49577\/revisions"}],"predecessor-version":[{"id":49578,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49577\/revisions\/49578"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}