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Preferred Stock Calendar
On The Horizon
HALLMARK FINANCIAL SERVICES INC.:
$25 million of $25-par senior unsecured notes due August 2024
Sandler ONeill + Partners and Incapital (bookrunners)
Redeemable
Proceeds will be used for working capital and general corporate purposes, which may include opportunistic business acquisitions and common stock repurchases
Fort Worth, Texas-based insurance holding company
NATIONAL GENERAL HOLDINGS CORP.:
$100 million of series B noncumulative perpetual preferred stock
Morgan Stanley & Co. LLC and UBS Securities LLC (bookrunners)
Redeemable
Proceeds will be used for general corporate purposes, which may include acquisitions and supporting current and future policy writings
New York-based insurance holding company
RED MOUNTAIN RESOURCES INC.:
10% series A cumulative redeemable preferred stock, mandatorily redeemable by July 15, 2018
Northland Capital Markets and Euro Pacific Capital (bookrunners)
Step-down redemption calendar
Dividend increases to 12% under certain cases of default
Proceeds will be used to fund a portion of the companys fiscal 2015 development program
Dallas-based growth-oriented company engaged in the acquisition, development and exploration of oil and natural gas properties in established basins with demonstrable prolific producing zones
SCORPIO BULKERS INC.:
$25-par senior notes due 2019
Stifel Nicolaus & Co. Inc., Deutsche Bank Securities Inc. and Jefferies & Co. (bookrunners)
Redeemable at par plus accrued interest
Proceeds will be used for general corporate purposes, including vessel acquisitions
Monaco-based shipping company
STARWOOD WAYPOINT RESIDENTIAL TRUST:
$100 million of series A cumulative redeemable perpetual preferred stock
Citigroup Global Markets Inc. (bookrunner)
Change-of-control feature
Proceeds will be contributed to the operating partnership in exchange for series A cumulative redeemable preferred units. Operating partnership will use funds to acquire assets and investments and for general corporate purposes
Oakland, Calif.-based real estate investment trust
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