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Preferred Stock Calendar: Arlington to price $25-par notes
On The Horizon
ARLINGTON ASSET INVESTMENT CORP.:
$25 million of $25-par senior notes due March 2025
Price talk is 6.75% area
RBC Capital Markets (bookrunner)
Compass Point, Ladenburg Thalmann & Co. Inc., Maxim Group LLC, MLV & Co. LLC, Sterne Agee & Leach Inc. and Wunderlich Securities Inc. (co-managers)
Callable March 2018
Proceeds will be used to acquire certain target assets, expected to consist primarily of agency-backed mortgage-backed securities and might also include private-label MBS
Washington, D.C.-based investment firm that invests in mortgage-related securities
HALLMARK FINANCIAL SERVICES INC.:
$25 million of $25-par senior unsecured notes due August 2024
Sandler ONeill + Partners and Incapital (bookrunners)
Redeemable
Proceeds will be used for working capital and general corporate purposes, which may include opportunistic business acquisitions and common stock repurchases
Fort Worth, Texas-based insurance holding company
NATIONAL GENERAL HOLDINGS CORP.:
$100 million of series B noncumulative perpetual preferred stock
Morgan Stanley & Co. LLC and UBS Securities LLC (bookrunners)
Redeemable
Proceeds will be used for general corporate purposes, which may include acquisitions and supporting current and future policy writings
New York-based insurance holding company
STARWOOD WAYPOINT RESIDENTIAL TRUST:
$100 million of series A cumulative redeemable perpetual preferred stock
Citigroup Global Markets Inc. (bookrunner)
Change-of-control feature
Proceeds will be contributed to the operating partnership in exchange for series A cumulative redeemable preferred units. Operating partnership will use funds to acquire assets and investments and for general corporate purposes
Oakland, Calif.-based real estate investment trust
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