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Digital Realty sells preferreds; AGNC active, unchanged, Wells Fargo improves
By James McCandless
San Antonio, Oct. 1 – The preferred space spent much of the Tuesday session varying in direction.
In the primary space, Digital Realty Trust, Inc. priced an upsized $300 million offering of $25-par series L cumulative redeemable preferred stock with a dividend of 5.2%.
Allegiance Bancshares, Inc. sold a $60 million offering of $1,000-par fixed-to-floating rate subordinated notes with an initial coupon of 4.7%.
AerCap Holdings NV plans to sell an offering of $1,000-par 60-year fixed-rate reset junior subordinated notes.
Secondary trading saw REIT AGNC Investment Corp.’s new 6.5% series E fixed-to-floating rate cumulative redeemable preferreds active but level.
Sector peer Public Storage, Inc.’s 4.875% series I cumulative preferred shares dove.
Meanwhile, Wells Fargo & Co.’s 5.85% series Q fixed-to-floating rate non-cumulative perpetual class A preferreds improved.
Elsewhere in finance, Capital One Financial Corp.’s 5% series I fixed-rate non-cumulative perpetual preferreds also closed positive.
Morgan Stanley’s 5.85% series K fixed-to-floating rate non-cumulative preferred stock were trailing.
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