S&P adds five issues to S&P U.S. Preferred Stock index, removes 10

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – S&P Dow Jones Indices announced changes to the S&P U.S. Preferred Stock index.

In its January rebalancing, the company added the following issues:

• The depositary shares representing 1/1000th of a 6.35% series C noncumulative preferred share of Endurance Specialty Holdings Ltd.;

• The depositary shares representing 1/40th of a 5.7% series F noncumulative perpetual preferred share of First Republic Bank;

• The depositary shares representing 1/20th of a 6.2% series A mandatory convertible preferred share of Kinder Morgan Inc.;

• The 7 1/8% series C noncumulative preferred securities of Maiden Holdings Ltd.; and

• The 7.95% series D cumulative redeemable preferred securities of Seaspan Corp.

S&P also deleted the following issues from the index:

• The depositary shares representing 1/40th of a 6.5% series C noncumulative perpetual preferred share of Astoria Financial Corp.;

• The depositary shares representing 1/10th of a 6.625% series E cumulative redeemable preferred share of CBL & Associates Properties Inc.;

• The depositary shares representing 1/20th of a series J cumulative redeemable preferred share of DDR Corp.;

• The series A 5.375% mandatory convertible preferred shares of Dynegy Inc.;

• The depositary shares representing 1/1000th of a series A 6.75% noncumulative perpetual preferred share of EverBank Financial Corp.;

• The series A 8.25% cumulative redeemable perpetual preferred shares of Breitburn Energy Partners LP;

• The series B cumulative redeemable perpetual preferred shares of Legacy Reserves LP;

• The class H American depository receipts of Navios Maritime Holdings Inc.;

• The series C 7.75% cumulative redeemable perpetual preferred units of Vanguard Natural Resources LLC; and

• The series B 7.625% cumulative redeemable perpetual preferred units of Vanguard Natural Resources.

New York-based S&P Dow Jones Indices is a part of McGraw Hill Financial and provides index-based concepts, data and research.

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