Ally Financial preferreds lower; AT&T’s $25-par notes decline; NiSource edges higher

By James McCandless

San Antonio, Dec. 12 – The preferred market saw a mixed session on Wednesday amid robust trading volume.

Leading trading volume, Ally Financial Inc.’s 8.125% series 2 fixed-to-floating rate trust preferreds declined.

The preferreds (NYSE: ALLYPrA) were lower by 2 cents to close at $25.26 on volume of about 592,000 shares.

Elsewhere in finance, U.S. Bancorp’s series B floating-rate non-cumulative perpetual preferreds and its 6.5% series F fixed-to-floating rate non-cumulative perpetual preferreds strengthened.

The series B preferreds (NYSE: USBPrH) added 1 cent to close at $18.55 with about 356,000 shares trading.

The series F preferreds (NYSE: USBPrM) were up 2 cents to close at $26.75 with about 320,000 shares trading.

Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferreds gained.

The preferreds (NYSE: GSPrD) rose 2 cents to close at $18.36 on volume of about 336,000 shares.

Telecom giant AT&T, Inc.’s 5.35% global notes due 2066 declined.

The notes (NYSE: TBB) were down 7 cents to close at $22.59 with about 291,000 notes trading.

In utilities, NiSource Inc.’s recent $500 million series B fixed-rate reset cumulative redeemable perpetual preferred stock was also edging higher.

The preferreds, trading under the temporary symbol “NISOP,” added 2 cents to close at $24.97 on volume of about 255,000 shares.

© 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.