4//SEC Filing
ENBRIDGE ENERGY CO INC 4
Accession 0001181431-13-026757
CIK 0000880285other
Filed
May 8, 8:00 PM ET
Accepted
May 9, 6:25 PM ET
Size
12.1 KB
Accession
0001181431-13-026757
Insider Transaction Report
Form 4
ENBRIDGE ENERGY PARTNERS LPNYSE EEP
ENBRIDGE ENERGY CO INC
Director10% Owner
Transactions
- Award
Series 1 Preferred Units, par value $25.00 per unit
2013-05-08$25.00/sh+48,000,000$1,200,000,000→ 48,000,000 total→ Class A Common Units (43,201,310 underlying)
ENBRIDGE INC
10% Owner
Transactions
- Award
Series 1 Preferred Units, par value $25.00 per unit
2013-05-08$25.00/sh+48,000,000$1,200,000,000→ 48,000,000 total→ Class A Common Units (43,201,310 underlying)
Footnotes (5)
- [F1]On or after June 1, 2016, at the sole option of the holder of the Series 1 Preferred Units, the Series 1 Preferred Units may be converted into Class A Common Units, in whole or in part, at a conversion price of $25.00 plus any accrued, accumulated and unpaid distributions (excluding certain distributions that were deferred for the eight quarters ending June 30, 2015 (the "Payment Deferral")) divided by $27.78. The Series 1 Preferred Units are redeemable, in whole or in part, at the Issuer's option on the five year anniversary of the issuance and every fifth year thereafter, at a redemption price of $25.00 plus any accrued, accumulated and unpaid distributions (including the Payment Deferral). (Continued in footnote 2)
- [F2]At all other times, redemption of the Series 1 Preferred Units, in whole or in part, is permitted only if (i) the Issuer uses the net proceeds from incurring debt and issuing equity (including assets sales) in equal amounts to redeem such Series 1 Preferred Units, (ii) a material change in the current tax treatment of the Series 1 Preferred Units occurs or (iii) the rating agencies' treatment of the equity credit for the Series 1 Preferred Units is reduced by 50% or more.
- [F3]Series 1 Preferred Units are perpetual securities and have no expiration date.
- [F4]Amount subject to change if there is (i) any arrearage on the payment of quarterly distributions for the Series 1 Preferred Units or (ii) an adjustment by the Issuer in the number of its Class A Common Units through a split, combination or distribution of additional Class A Common Units.
- [F5]The information in Exhibit 99.1 is incorporated herein by reference.
Documents
Issuer
ENBRIDGE ENERGY PARTNERS LP
CIK 0000880285
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001218297
Filing Metadata
- Form type
- 4
- Filed
- May 8, 8:00 PM ET
- Accepted
- May 9, 6:25 PM ET
- Size
- 12.1 KB