{"id":50692,"date":"2019-08-30T11:26:00","date_gmt":"2019-08-30T15:26:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50692"},"modified":"2025-11-17T11:28:14","modified_gmt":"2025-11-17T16:28:14","slug":"enb-pr-y-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50692","title":{"rendered":"ENB.PR.Y : No Conversion To FloatingReset"},"content":{"rendered":"<p>Enbridge Inc. <a href=\"https:\/\/www.enbridge.com\/media-center\/news\/details?id=123586&amp;lang=en\">has announced<\/a> (on August 19):<\/p>\n<blockquote>\n<p> that none of its outstanding Cumulative Redeemable Preference Shares, Series 3 (Series 3 Shares) will be converted into Cumulative Redeemable Preference Shares, Series 4 of Enbridge (Series 4 Shares) on September 1, 2019.<\/p>\n<p>After taking into account all conversion notices received from holders of its outstanding Series 3 Shares by the August 19, 2019 deadline for the conversion of the Series 3 Shares into Series 4 Shares, less than the 1,000,000 Series 3 Shares required to give effect to conversions into Series 4 Shares were tendered for conversion.<\/p>\n<\/blockquote>\n<p>ENB.PR.Y is a FixedReset, 4.00%+238, that <a href=\"https:\/\/prefblog.com\/?p=22168\">commenced trading 2013-6-6<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=22070\">announced 2013-5-28<\/a>. The issue <a href=\"https:\/\/prefblog.com\/?p=39163\">will reset at 3.737%<\/a> effective September 1, 2019. I <a href=\"https:\/\/prefblog.com\/?p=39236\">recommended against conversion<\/a>. ENB.PR.Y is tracked by HIMIPref&trade; but relegated to the Scraps &#8211; FixedReset (Discount) subindex on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enbridge Inc. has announced (on August 19): that none of its outstanding Cumulative Redeemable Preference Shares, Series 3 (Series 3 Shares) will be converted into Cumulative Redeemable Preference Shares, Series 4 of Enbridge (Series 4 &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-50692","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50692","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=50692"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50692\/revisions"}],"predecessor-version":[{"id":50693,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50692\/revisions\/50693"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}