Verizon deal attracts interest; Barclays, Aegon, ING, Countrywide move on low volumes

By Christine Van Dusen

Atlanta, Jan. 31 - Preferred stock market investors were intrigued by the new "baby bond" issue that Verizon Communications Inc. brought to the market on Thursday, a trader said.

This allowed the telecommunications firm to upsize the deal to $500 million.

The issue of 5.9% $25-par notes due Feb. 15, 2054 priced at par following talk for a yield of 6% to 6.125%. The notes are callable at par in 2019.

BofA Merrill Lynch, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners for the Securities and Exchange Commission-registered deal.

The notes will be listed on the New York Stock Exchange.

In trading on Friday morning, Barclays Bank plc's 8.125% non-cumulative callable dollar preference shares, series 5, ADR were up 4 cents at $25.55.

The company's 7.1% non-cumulative callable dollar preference shares, series 3, ADR dropped 7 cents to $25.29.

And Aegon NV's 6.375% perpetual capital securities moved up 3 cents to $24.53 in light volume.

On Friday afternoon, Aegon's 6.875% perpetual capital securities moved up a penny to $25.39 on volume totaling 337,799.

ING Groep NV's 6.375% perpetual hybrid capital securities moved down a penny to $24.28 on 305,205 shares traded.

And Countrywide Capital V's 7% capital securities dipped 3 cents to $25.11 on volume totaling 233,507.

© 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.