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AltaGas Ltd. (ALA)
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AltaGas Ltd. cumulative redeemable five-year rate reset preferred shares series E (ALA.PR.E)
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Q: ALA announced Nov21 the redemption of ALA.PE . Yet these preferred had a big jump 2 weeks earlier. ALA.PG, to be reset in 2024, also jumped. Was it the Earning report or the Note offering that would trigger such a move. Or a crystal ball ? The stock itself was flat. Thanks,

Asked by Denise on November 27, 2023

5i Research Answer:

There could have been a leak of info, or it could have simply been a coincidence. The timing is close to when the FED more or less indicated that rate hikes may be done for now, and many preferred shares spiked higher as the yield curve shifted.

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