RiverNorth lists 5.875% term preferreds due 2021 on NYSE

By Susanna Moon

Chicago, Oct. 26 – RiverNorth Marketplace Lending Corp. listed for trading its 5.875% series A term preferred shares due Oct. 31, 2024, according to a notice by the exchange.

As reported Oct. 18, RiverNorth priced $36 million of the 5.875% series A term preferreds at par with a $25.00 liquidation preference.

The issuer expected to list the securities on the New York Stock Exchange under the symbol “RMPL.”

The company sold 1.44 million preferreds.

There is an over-allotment option for 216,000 shares for an additional $5.4 million.

Dividends will be payable on a monthly basis. The preferreds are redeemable on or after Oct. 31, 2020 at par plus dividends.

Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are the bookrunners.

RiverNorth Marketplace Lending is a closed-end management investment company based in Chicago.

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