Saul Centers' 6.875% series C preferreds admitted to trading on NYSE

By Tali David

Minneapolis, Feb. 13 - The depositary shares of Saul Centers, Inc.'s 6.875% series C cumulative redeemable preferred stock have been admitted to trading on the New York Stock Exchange, according to a notice.

The stock trades under the symbol "BFS PR C."

The company priced $125 million of the preferreds on Jan. 30.

The preferreds were sold as depositary shares representing a 1/100th interest.

Raymond James & Associates Inc., Baird & Co., RBC Capital Markets LLC and Stifel Nicolaus & Co. are the joint bookrunners.

Proceeds will be contributed to the operating partnership in exchange for a preferred interest. The partnership will then use the funds to redeem series B preferreds. Any remaining funds will be used to redeem at least a portion of the series A preferreds.

Saul Centers is a Bethesda, Md.-based real estate investment trust.

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