At December 31, 2016 and 2015, the issued and outstanding redeemable preferred shares of the Company, each with a par value of $1.00 per share, and the changes in the preferred shares during the year, were as follows:



	December 31, 2015	Exchanged May 2016		After exchange May 2016	Redeemed November 2016		December 31, 2016
Series D 6.5% cumulative	9,200,000	(6,415,264	)	2,784,736	(2,784,736	)	—
Series E 7.25% cumulative	14,950,000	(11,753,798	)	3,196,202	(3,196,202	)	—
Series F 5.875% non-cumulative	10,000,000	(7,320,574	)	2,679,426	—		2,679,426
Series G 6.5% cumulative	—	6,415,264		6,415,264	—		6,415,264
Series H 7.25% cumulative	—	11,753,798		11,753,798	—		11,753,798
Series I 5.875% non-cumulative	—	7,320,574		7,320,574	—		7,320,574
	34,150,000	—		34,150,000	(5,980,938	)	28,169,062

The deferred issuance costs paid included in additional paid-in capital, comprised of underwriting discounts and commissions, and the aggregate liquidation value of each series of preferred shares outstanding at December 31, 2016 were as follows (in millions of U.S. dollars):



	Series F		Series G		Series H		Series I
Date of issuance	February 2013		May 2016		May 2016		May 2016
Underwriting discounts and commissions ⁽¹⁾	$	2.3	$	5.4	$	9.5	$	6.4
Aggregate liquidation value, at $25 per share	$	67.0	$	160.4	$	293.8	$	183.0

(1)

Underwriting discounts and commissions for Series F and I represent the original amounts paid to issue Series F shares. Underwriting discounts and commissions for Series G and H represent the original amounts paid to issue Series D and E which were redeemed in November 2016, as described below. These amounts were reallocated as a result of the shares that were exchanged in May 2016 of December 31, 2016 for $nil consideration or cost.