TC Energy Announced That 1.3M Of Its 18M Fixed Rate Cumulative Redeemable First Preferred Shares, Series 9 Have Been Elected For Conversion On A One-for-one Basis Into Floating Rate Cumulative Redeemable First Preferred Shares, Series 10 Effective In Oct
Portfolio Pulse from Benzinga Newsdesk
TC Energy announced that 1.3 million of its 18 million fixed rate cumulative redeemable first preferred shares, Series 9, have been elected for conversion into floating rate cumulative redeemable first preferred shares, Series 10, effective in October.
October 23, 2024 | 11:40 am
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NEUTRAL IMPACT
TC Energy's announcement of the conversion of 1.3 million Series 9 preferred shares to Series 10 floating rate shares may impact investor sentiment and the company's capital structure.
The conversion of preferred shares from fixed to floating rate can affect the company's financials and investor perception. However, the number of shares converted is relatively small compared to the total, suggesting a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80