By Susanna Moon
Chicago, June 12 - NorthStar Realty Finance Corp. registered to sell up to $75 million of 8.75% series A cumulative redeemable perpetual preferred stock and 8.25% series B cumulative redeemable perpetual preferred stock in a 424B5 filing with the Securities and Exchange Commission.
The company may sell up to 500,000 shares of the 8.75% series A preferreds and 2.5 million shares of the 8.25% series B preferreds, each with a liquidation preference of $25 per share, in at-the-market offerings.
JMP Securities LLC and MLV & Co. LLC are the agents.
The series A preferreds (NYSE: NRFPrA) closed at $24.30 per share on June 11. The series B preferreds (NYSE: NRFPrB) closed at $22.80 per share on June 11.
Proceeds will be used to make investments relating to the company's business, to repurchase or pay liabilities and for general corporate purposes.
The preferreds are callable at par plus accrued dividends.
NorthStar is a New York-based real estate investment trust.
| Issuer: | NorthStar Realty Finance Corp.
|
| Issue: | Series A cumulative redeemable preferred stock, series B cumulative redeemable preferred stock
|
| Amount: | $75 million
|
| Maturity: | Perpetual
|
| Liquidation preference: | $25.00
|
| Call option: | At par plus accrued dividends
|
| Agents: | JMP Securities LLC and MLV & Co. LLC
|
|
|
| Series A
|
| Dividend: | 8.75%, payable quarterly
|
| Listing: | NYSE: NRFPrA
|
|
|
| Series B
|
| Dividend: | 8.25%, payable quarterly
|
| Listing: | NYSE: NRFPrB
|
© 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.
