Preferred Stock Calendar

On The Horizon

HALLMARK FINANCIAL SERVICES INC.:

• $25 million of $25-par senior unsecured notes due August 2024

• Sandler O’Neill + 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

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

TELEFONICA BRASIL SA:

• 219.95 million preferred shares via a global offering

• Itau BBA, Morgan Stanley & Co. LLC, BofA Merrill Lynch and Santander (global coordinators)

• Bradesco BBI, BTG Pactual, Credit Suisse, Goldman Sachs & Co., HSBC and J.P. Morgan Securities LLC (joint bookrunners)

• Proceeds will be used to fund the cash portion of the Global Village Telecom acquisition, to repay Global Village’s loans and to maintain liquidity

• Sao Paulo-based telecommunications company

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