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Published on 3/22/2016 in the Prospect News Preferred Stock Daily.

Preferred Stock Calendar

On The Horizon

DEL MONTE PACIFIC LTD.:

• $360 million cumulative perpetual preferred stock

• Non-voting, non-participating and non-convertible

• BDO Capital & Investment Corp. (issue manager), BPI Capital Corp., China Banking Corp., PNB Capital and Investment Corp. and SB Capital Investment Corp. (joint lead underwriters and bookrunners)

• Price per share a maximum of $10.00

• Proceeds will be used to refinance a $350 million bridge loan with BDO Unibank Inc.

• Philippines-based fruit company

EMERGENT CAPITAL INC.:

• $25 million of $25-par senior notes due Feb. 15, 2021

• Ladenburg Thalmann & Co. Inc. and Compass Point (joint)

• Payable quarterly

• Redeemable beginning Feb. 15, 2018 at 105% of par plus accrued interest; price slides to 103% in 2019 and 101% thereafter

• Proceeds will be used for general corporate purposes.

• Boca Raton, Fla.-based specialty finance company focused on life insurance settlements

MBC FUNDING II CORP.:

• $9.99 million of $25-par senior secured notes due 2026

• Redeemable beginning in 2019 or upon a change of control

• Aegis Capital Corp. (bookrunner)

• Principal to be repaid quarterly if mortgage loan portfolio and cash on hand equal less than 120% of outstanding notes

• Proceeds will be used to purchase a pool of mortgage loans from parent Manhattan Bridge Capital. Parent will then use funds to pay down debt.

• Great Neck, N.Y.-based real estate finance company


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