E Split Corp T.ENS

Alternate Symbol(s): ENSPF | T.ENS.PR.A

The objective of the Class A shares is to provide holders with non-cumulative monthly cash distributions and the opportunity for capital appreciation through exposure to the portfolio. And The investment objectives for the preferred shares is to provide holders with fixed cumulative preferential quarterly cash distributions and return the original issue price of 10.00 Dollars to holders upon maturity. The Company has a portfolio comprised primarily of common shares of Enbridge Inc. Enbridge, a North American oil and gas pipeline, gas processing and natural gas distribution company the Enbridge Common Shares or the Portfolio and intends to purchase Enbridge Common Shares from time to time in the market or through participation in future public offerings by Enbridge. The Advisor believes that the Company offers investors an opportunity to gain exposure to Enbridge, one of the worlds largest energy infrastructure companies.

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E Split Corp > keep an eye on the Prefs

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Comment by cttglvron Jul 09, 2024 10:29pm

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RE:RE:RE:RE:keep an eye on the Prefs

Thanks Experienced.

I hope you're right. I doubt they'll issue preferreds. I hope it's pure debt as a bond. DBRS just upgraded Enbridge to a PF 2 low. Am I correct in thinking this would help at least a bit to secure financing at a lower coupon?

I totally agree on the preferreds. The P's bought in Sept are up 18.6% and the P's bought Apr 30 are up 6.7% as they seemed mispriced after the reset.

As Obscure has pointed out ENB has mostly been down after the announcement to raise funds. It would be nice to get clarity and get this lead weight of uncertainty off the stock.

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