Examples of Series 13 Class A Preferred Shares in a sentence
The dividend rate will reset on the Redemption and Conversion Option Date and every five years thereafter at a rate equal to the sum of the then five-year Government of Canada bond yield plus the applicable Reset Spread noted above, provided that in any event, the rate for the Series 11 and Series 13 Class A Preferred Shares shall not be less than 5.75 percent.
April 21 Pembina announced that it had received approval from the AER relating to the construction of two 270 km, 24" and 16" pipelines between Fox Creek and Namao, Alberta, as part of the Phase III Expansion.April 27 Pembina completed a bought deal offering of 10,000,000 Series 13 Class A Preferred Shares at a price of $25.00 per Series 13 Class A Preferred Share pursuant to a prospectus supplement dated April 18, 2016 under its 2015 Base Shelf Prospectus, for aggregate gross proceeds of $250 million.
The Pembina Series 13 Class A Preferred Shares were redeemed at a price of $25.00 per Pembina Series 13 Class A Preferred Share, less any taxes required to be deducted or withheld by Pembina.
Subsequent to quarter end, on April 6, 2021, Pembina announced its intention to redeem all of the 10 million issued and outstanding Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 13 (the "Series 13 Class A Preferred Shares") on June 1, 2021 for a redemption price equal to $25.00 per Series 13 Class A Preferred Shares, less taxes required to be deducted or withheld by the Company.
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The total redemption price of $250 million for the Pembina Series 13 Class A Preferred Shares was paid by Pembina from a portion of the net proceeds from its $600 million public offering of Pembina Hybrid Notes, which closed on January 25, 2021.