Preferred stocks improve; AT&T’s $172.5 million greenshoe exercised; Golar drops

By Cristal Cody

Tupelo, Miss., Oct. 31 – Preferreds ended mostly better during Tuesday’s session.

The Wells Fargo Hybrid and Preferred Securities index gained 25 basis points.

The U.S. iShares Preferred Stock ETF closed up 21 bps.

AT&T Inc. priced a total of $1,322,500,000 of 5.35% $25.00-par global notes due Nov. 1, 2066 after the underwriters exercised the $172.5 million over-allotment option.

In trading on Tuesday, Golar LNG Partners LP’s new 8.75% series A perpetual cumulative redeemable preferred units closed down 4 cents, or 0.16%, to $25.05.

Golar LNG Partners sold $120 million of the preferred units, which were issued the temporary symbol “GOLPF”, on Oct. 24 at $25.00 per unit.

The Hamilton, Bermuda-based owner and operator of liquid natural gas carriers will apply to list the preferred units on the Nasdaq Global Select Market under the symbol “GMLPP.”

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