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Pembina says no series 3 preferred shares will be converted March 1
By Angela McDaniels
Tacoma, Wash., Feb. 15 – Pembina Pipeline Corp. said that none of its cumulative redeemable rate reset class A preferred shares, series 3, will be converted into cumulative redeemable floating-rate class A preferred shares, series 4, on March 1.
Fewer than 1 million preferreds were tendered by the Feb. 15 deadline, not enough to effect conversions.
Calgary, Alta.-based Pembina Pipeline is a transportation and midstream service provider to the energy industry.
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