Triton International taps market; Charles Schwab flat; Voya preferreds up; Athene better

By James McCandless

San Antonio, June 17 – The preferred space was trending higher on the first day of a new week, with some mixed activity among top traders.

Triton International Ltd. priced a $125 million offering of $25-par series B cumulative redeemable perpetual preference shares at par with a dividend of 8%.

There is an $18.75 million greenshoe

The preferreds are redeemable on or after Sept. 15, 2024.

Charles Schwab Corp.’s 5.95% series D non-cumulative perpetual preferred stock led market volume but finished flat.

The preferreds (NYSE: SCHWPrD) closed level at $26.68 on volume of about 893,000 shares.

Elsewhere in finance, Regions Financial Corp.’s 5.7% series C fixed-to-floating rate non-cumulative perpetual preferreds rose.

The preferreds (NYSE: RFPrC) picked up 7 cents to close at $25.59 with about 346,000 shares trading.

Employee benefits name Voya Financial, Inc.’s recent 5.35% series B fixed-rate reset non-cumulative preferreds improved.

The preferreds, trading under the temporary symbol “VOYXL,” added 10 cents to close at $25.39 on volume of about 534,000 shares.

Retirement company Athene Holding Ltd.’s recent 6.35% series A fixed-to-floating rate perpetual non-cumulative preference shares closed better.

The preferreds, trading under the temporary symbol “ATHDF,” were up 6 cents to close at $25.95 on volume of about 340,000 shares.

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