PrefBlog

Husky Energy has announced:

that more than one million of its 12,000,000 Cumulative Redeemable Preferred Shares, Series 1 (Series 1 Shares) have been elected for conversion on a one-for-one basis into Cumulative Redeemable Preferred Shares, Series 2 (Series 2 Shares), effective March 31, 2016.

As of March 31, 2016, Husky Energy will have 10,435,932 Series 1 Shares and 1,564,068 Series 2 Shares issued and outstanding. The Series 1 Shares are listed on the Toronto Stock Exchange under the symbol HSE.PR.A and the Series 2 Shares are listed under HSE.PR.B.

HSE.PR.B will pay 3-Month bills +173bp paid on par value, reset quarterly.

There was no trading of the issue. Given the wide spread of the closing quote of 8.80-12.00, 1×1, any sort of price comparison with HSE.PR.A and other FloatingResets must await a tighter market.

For what it’s worth (not much), vital statistics are:

This entry was posted on Friday, April 1st, 2016 at 3:56 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.