November 15, 2016 11:10 am eastern Enbridge 5.15% rate reset

Enbridge is out with a 5.15% rate reset preferred share that features a minimum 5.15% upon reset. That minimum provides protection in the event the 5 year Canada bond falls back. These could prove unattractive if rates really soar but there is  not much sign of that. I just placed an order for some. In part, I think these IPOs play on the emotion of scarcity since they are likely to sell out fast. It forces me to act faster than I would like to.

Those who wish to take advantage of such IPOs should register for alerts from their broker as the better IPOs sell out very quickly. (Unfortunately, there is not much time to think about it).