Enterprise preps notes; Wintrust active, unchanged; Farmer Mac ends lower

By James McCandless

San Antonio, May 15 – The preferred market finished the week declining for another session and with a focus on newer issues.

In primary activity, Enterprise Financial Services Corp. plans to price an offering of fixed-to-floating rate subordinated notes due 2030.

On top of secondary trading, Wintrust Financial Corp.’s recent 6.875% series E fixed-rate reset non-cumulative perpetual preferreds closed level at $24.75 on volume of about 475,000 shares.

Elsewhere in the finance space, First Midwest Bancorp, Inc.’s new 7% series A fixed-rate non-cumulative perpetual preferred shares picked up 5 cents to close at $24.78 with about 318,000 shares.

Sector peer Stifel Financial Corp.’s new 6.125% series C non-cumulative preferreds gained 1 cent to close at $24.84 on volume of about 281,000 shares.

Rural lender Federal Agricultural Mortgage Corp.’s new 5.75% series E non-cumulative perpetual preferreds shaved off 5 cents to close at $24.45 with about 396,000 shares trading.

Meanwhile, REIT National Retail Properties, Inc.’s 5.2% series F cumulative redeemable preferreds dropped 20 cents to close at $22.91 on volume of about 227,000 shares.

© 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.