{"id":50221,"date":"2019-04-24T21:21:00","date_gmt":"2019-04-25T01:21:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50221"},"modified":"2025-10-07T21:22:46","modified_gmt":"2025-10-08T01:22:46","slug":"trp-pr-d-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50221","title":{"rendered":"TRP.PR.D : No Conversion to FloatingReset"},"content":{"rendered":"<p>TransCanada Corporation <a href=\"https:\/\/www.transcanada.com\/en\/announcements\/2019-04-23transcanada-provides-results-of-series-7-shares-conversion-elections\/\">has announced<\/a> (on April 23):<\/p>\n<blockquote>\n<p>that 725,094 of its 24,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 7 (Series 7 Shares) were deposited for conversion on April 30, 2019 on a one-for-one basis into floating rate Cumulative Redeemable First Preferred Shares, Series 8 (Series 8 Shares).<\/p>\n<p>As previously announced in the Company\u2019s news release dated March 15, 2019, the conversions are subject to the conditions that: (i) if TransCanada determines that there would be less than one million Series 7 Shares outstanding after April 30, 2019, then all remaining Series 7 Shares will automatically be converted into Series 8 Shares on a one-for-one basis on April 30, 2019, and (ii) alternatively, if TransCanada determines that there would be less than one million Series 8 Shares outstanding after April 30, 2019, no Series 7 Shares will be converted into Series 8 Shares.<\/p>\n<p>As the total number of Series 7 Shares tendered for conversion did not meet the threshold set out above, no Series 7 Shares will be converted into Series 8 Shares on April 30, 2019.<\/p>\n<p>For more information on the terms of and risks associated with an investment in the Series 7 Shares and the Series 8 Shares, please see the prospectus supplement dated February 25, 2013 which is available on sedar.com or on the TransCanada website.<\/p>\n<\/blockquote>\n<p>TRP.PR.D is a FixedReset, 4.00%+238, that <a href=\"https:\/\/prefblog.com\/?p=21263\">commenced trading 2013-3-4<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=21188\">announced 2013-2-25<\/a>. The extension was <a href=\"https:\/\/prefblog.com\/?p=38369\">announced 2019-3-15<\/a>. The <a href=\"https:\/\/prefblog.com\/?p=38482\">issue will reset at 3.903% effective April 30, 2019<\/a>. I <a href=\"https:\/\/prefblog.com\/?p=38541\">recommended against conversion<\/a>. TRP.PR.D is tracked by HIMIPref&trade; and assigned to the FixedReset (Discount) subindex.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TransCanada Corporation has announced (on April 23): that 725,094 of its 24,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 7 (Series 7 Shares) were deposited for conversion on April 30, 2019 on a one-for-one &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-50221","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50221","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=50221"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50221\/revisions"}],"predecessor-version":[{"id":50222,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50221\/revisions\/50222"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}