{"id":49850,"date":"2018-12-18T19:48:00","date_gmt":"2018-12-19T00:48:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49850"},"modified":"2025-08-27T19:50:07","modified_gmt":"2025-08-27T23:50:07","slug":"cpx-pr-c-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49850","title":{"rendered":"CPX.PR.C : No Conversion to FloatingReset"},"content":{"rendered":"

Capital Power Corporation has announced<\/a>:<\/p>\n

\n

that after having taken into account all Election Notices following the December 17, 2018 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 3 (Series 3 Shares) tendered for conversion into Cumulative Floating Rate Preference Shares, Series 4 (Series 4 Shares), the holders of Series 3 Shares were not entitled to convert their shares. There were approximately 47,270 Series 3 Shares tendered for conversion, which was less than the required one million shares required for conversion into Series 4 Shares.<\/p>\n

There are six million Series 3 Shares listed on the Toronto Stock Exchange (TSX) under the symbol CPX.PR.C. Effective December 31, 2018, the Annual Fixed Dividend Rate for the next five-year period has been reset to 5.45300%.<\/p>\n

For more information on the terms of, and risks associated with an investment in the Series 3 Shares, please see Capital Power\u2019s prospectus supplement dated December 10, 2012<\/a> which is available on sedar.com<\/a> or on Capital Power’s website at capitalpower.com.<\/p>\n<\/blockquote>\n

It will be recalled that CPX.PR.C will reset at 5.453% effective December 31, 2018<\/a>.<\/p>\n

CPX.PR.C is a FixedReset, 4.60%+323, that commenced trading 2012-12-18<\/a> after being announced 2012-12-6<\/a>. It is tracked by HIMIPref™ but relegated to the Scraps – FixedReset Discount index on credit concerns.<\/p>\n

The issue will reset at 5.453% effective December 31, 2018<\/a>. I recommended against conversion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Capital Power Corporation has announced: that after having taken into account all Election Notices following the December 17, 2018 conversion deadline, in respect of the Cumulative Rate Reset Preference Shares, Series 3 (Series 3 Shares) …<\/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-49850","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49850","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=49850"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49850\/revisions"}],"predecessor-version":[{"id":49851,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49850\/revisions\/49851"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}