By Angela McDaniels
Tacoma, Wash., March 17 - CapLease, Inc. will sell up to $25 million more of its 8 1/8% series A cumulative redeemable preferred stock from time to time, according to a 424B5 filing with the Securities and Exchange Commission.
The company said $35 million of the preferreds are currently outstanding.
Dividends are payable quarterly.
The preferreds are callable at par of $25 beginning Oct. 19, 2010.
Brinson Patrick Securities Corp. is the agent.
Proceeds will be used for general corporate purposes.
The preferreds are listed on the New York Stock Exchange under the symbol "LSE PrA." They closed at $25.19 on Wednesday.
CapLease is a New York-based real estate investment trust that invests primarily in single-tenant commercial real estate assets subject to long-term leases to high credit quality tenants.
| Issuer: | CapLease, Inc.
|
| Issue: | Series A cumulative redeemable preferred stock
|
| Agent: | Brinson Patrick Securities Corp.
|
| Amount: | Up to $25 million
|
| Dividends: | 8 1/8%, payable quarterly
|
| Liquidation preference: | $25.00
|
| Call option: | At par beginning Oct. 19, 2010
|
| Listing: | NYSE: LSA PrA
|
| Pricing date: | March 17
|
© 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.
