Preferred Stock Calendar: JPMorgan, Customers add to pipeline

On The Horizon

BOX SHIPS INC.: Series C cumulative redeemable perpetual preferred stock; 9% price talk; Maxim Group LLC, Ladenburg Thalmann & Co. Inc. and MLV & Co. LLC (joint); Global Hunter Securities and National Securities Corp. (lead managers); Aegis Capital Corp. (co-manager); redeemable in 2018 or in the event of a change of control; proceeds to redeem all outstanding series B-1 preferred shares, to repay all or some of an unsecured loan with Paragon Shipping and for general corporate purposes, which may include the repayment of debt and the acquisition of vessels; Voula, Greece-based international shipping company.

CHS INC.: $250 million of class B reset rate cumulative redeemable preferred stock; rate resets in 2023 and every 10 years thereafter; redeemable in 2023 or in the event of a change of control; BofA Merrill Lynch and Wells Fargo Securities LLC (joint); DA Davidson & Co. (co-manager); proceeds for general corporate purposes; Inver Grove Heights, Minn.-based integrated agricultural company.

CUSTOMERS BANCORP INC.: $25 million of $25-par senior notes due 2018; $3.75 million greenshoe; Janney Montgomery Scott LLC and Boennig & Scattergood Inc. (joint); proceeds will be used to invest in Customers Bank, to fund organic growth and for working capital and general corporate purposes; Wyomissing, Pa.-based bank holding company.

JPMORGAN CHASE & CO.: $1,000-par series R fixed-to-floating rate noncumulative perpetual preferred stock; price talk 6.125% to 6.25%; J.P. Morgan Securities LLC; proceeds for general corporate purposes; New York-based banking institution.

MHI HOSPITALITY LP: At least $23 million of senior unsecured $25-par notes due 2018; redeemable 2016; Sandler O'Neill + Partners LP; proceeds to redeem all outstanding Sotherly Hotels Inc. preferred stock and for general corporate purposes; Williamsburg, Va.-based real estate investment trust.

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