Safe Bulkers' 8% series B preferreds admitted to trading on NYSE

By Tali David

Minneapolis, June 19 - Safe Bulkers, Inc.'s 8% series B cumulative redeemable perpetual preferred shares have been admitted to trading on the New York Stock Exchange, according to a notice.

The preferreds trade under the symbol "SB PRB."

The company priced $40 million of the preferreds on June 3.

As previously reported, Incapital LLC is the sole structuring agent and is also a bookrunner along with DNB Markets.

Proceeds will be used for vessel acquisitions, capital expenditures and other general corporate purposes, including the repayment of debt.

Safe Bulkers is an Athens, Greece-based provider of marine drybulk transportation.

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