GATX calls all series A, series B cumulative convertible preferreds

By Tali David

Minneapolis, April 26 - GATX Corp. called all 15,467 outstanding shares of its series A and B $2.50 cumulative convertible preferred stock, according to a press release.

The preferred stock will be redeemed at $63 per share plus accumulated distributions on June 10.

Holders have the right before the close of business, New York time, on June 9 to convert any or all of their preferred stock into shares of GATX common stock at a conversion rate of five shares of common stock for each share of preferred stock.

GATX common stock closed at $50.14 (NYSE: GMT) on April 26.

GATX is a Chicago-based rail and transportation company.

© 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.