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NiSource issues 20,000 series B-1 preferred shares

NiSource Inc. said it issued 20,000 shares of its series B-1 preferred stock as a distribution with respect to its outstanding 20,000 shares of 6.50% series B fixed-rate reset cumulative redeemable perpetual preferred stock, liquidation preference $25,000 per share.

The depositary shares, which the company issued Dec. 5, now represent a 0.001% ownership interest in each share of the series B and series B-1 preferred stocks, according to a Dec. 27 SEC filing.

NiSource issued the series B-1 shares to enhance the voting rights of the series B stock in the event of a nonpayment event to comply with the minimum voting rights policy of the NYSE.