Preferred Stock Calendar

Thursday-Tuesday

U.S. TREASURY DEPARTMENT: Modified Dutch auction of $1,000-par preferred securities issued by six banks under the Troubled Asset Relief Program; participating banks are Centrue Financial Corp. of Ottawa, Ill.; DeSoto County Bank of Horn Lake, Miss.; First Banks Inc. of Clayton, Mo.; RCB Financial Corp. of Rome, Ga.; Reliance Bancshares Inc. of Frontenac, Mo.; and Severn Bancorp Inc. of Annapolis, Md.; Treasury to receive all proceeds.

On The Horizon

CHS INC.: $250 million of class B reset rate cumulative redeemable preferred stock; rate resets in 2023 and every 10 years thereafter; redeemable in 2023 or in the event of a change of control; BofA Merrill Lynch and Wells Fargo Securities LLC (joint); DA Davidson & Co. (co-manager); proceeds for general corporate purposes; Inver Grove Heights, Minn.-based integrated agricultural company.

MHI HOSPITALITY LP: At least $23 million of senior unsecured $25-par notes due 2018; redeemable 2016; Sandler O'Neill + Partners LP; proceeds to redeem all outstanding Sotherly Hotels Inc. preferred stock and for general corporate purposes; Williamsburg, Va.-based real estate investment trust.

VANTAGESOUTH BANCSHARES INC.: $50 million of fixed-to-floating rate noncumulative perpetual preferreds; redeemable upon a regulatory capital treatment event or after a certain date; Keefe, Bruyette & Woods, Inc. and Sandler O'Neill + Partners LP; proceeds to buy back TARP preferreds and warrants from Treasury Department; Raleigh, N.C.-based bank holding company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.