{"id":50343,"date":"2019-05-21T11:50:00","date_gmt":"2019-05-21T15:50:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50343"},"modified":"2025-10-16T11:52:01","modified_gmt":"2025-10-16T15:52:01","slug":"ppl-pr-e-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50343","title":{"rendered":"PPL.PR.E : No Conversion to FloatingReset"},"content":{"rendered":"

Pembina Pipeline Corporation has announced<\/a>:<\/p>\n

\n

that none of Pembina’s Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 5 (“Series 5 Shares”) (TSX: PPL.PR.E) will be converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 6 of Pembina (“Series 6 Shares”) on June 3, 2019.<\/p>\n

After taking into account all conversion notices received from holders of its outstanding Series 5 Shares by the May 17, 2019 deadline for the conversion of the Series 5 Shares into Series 6 Shares, less than the 1,000,000 Series 5 Shares required to give effect to conversions into Series 6 Shares were tendered for conversion.<\/p>\n<\/blockquote>\n

PPL.PR.E is a FixedReset, 5.00%+300, that commenced trading 2014-1-16<\/a> after being announced 2014-1-7<\/a>. It will reset At 4.573%<\/a> effective June 1, 2019. I recommended against conversion<\/a>. The issue is tracked by HIMIPref™ but relegated to the Scraps – FixedReset Discount index on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pembina Pipeline Corporation has announced: that none of Pembina’s Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 5 (“Series 5 Shares”) (TSX: PPL.PR.E) will be converted into Cumulative Redeemable Floating Rate Class A Preferred …<\/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-50343","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50343","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=50343"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50343\/revisions"}],"predecessor-version":[{"id":50344,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50343\/revisions\/50344"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}