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Preferred Stock Calendar
SEPTEMBER
QWEST CORP.: $250 million of $25-par senior notes due 2051; non-callable for five years; price talk around 7.5%; Baa3/BBB-/BBB-; Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC (joint bookrunning managers); J.P. Morgan Securities LLC and RBC Capital Markets LLC (lead managers); SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc. (co-managers); proceeds will be used to redeem a portion of the company's $1.5 billion outstanding 8.875% notes; telecommunications provider based in Monroe, La.
ON THE HORIZON
PREFERRED APARTMENT COMMUNITIES INC.: 2,000 to 150,000 preferred stock units containing one share of 6% series A redeemable preferred stock and warrants for 20 common shares; $1,000 per unit; monthly dividend; redeemable by holder after two years and by company after 10 years; International Assets Advisory LLC (book manager); proceeds will be used for acquisition of multifamily properties; Atlanta-based apartment managing company.
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