DDR's 6.25% class K preferreds admitted to begin trading on NYSE

By Tali David

Minneapolis, April 11 - The depositary shares of DDR Corp.'s 6.25% class K cumulative redeemable preferred shares have been admitted to trading on the New York Stock Exchange, according to a notice.

The shares trade under the symbol "DDR PR K."

Each preferred will be issued as a depositary share representing a 1/20th interest.

The company priced $150 million of the preferreds on March 25.

As previously reported, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

The Beachwood, Ohio-based real estate investment trust intends to use the proceeds together with cash on hand to redeem all outstanding 7.375% class H cumulative preferreds for $205.5 million, including accrued dividends.

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