Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 3:09 AM
|This Slide: #395 of 573|
Slide #395. Resource Capital Corp. — Preferred Stock Offering
Resource Capital Corp. (RSO)
Price Per Share:
Preferred Stock Offering Details:
Resource Capital Corp. (NYSE: RSO) (the "Company") announced today that it priced an underwritten public offering of $110 million of a newly-designated series of preferred stock, 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock with a liquidation preference of $25 per share ("Series C Preferred Stock"). The Company has granted the underwriters a 30-day option to purchase up to an additional $16.5 million of its Series C Preferred Stock solely to cover over-allotments, if any. The offering is expected to close on June 10, 2014.
Resource Capital is a real estate investment trust. Co. originates, holds and manages commercial mortgage loans and other commercial real estate-related debt investments. Co. invests in the following asset classes: commercial real estate-related assets such as first mortgage loans, first priority interests in first mortgage loans, and subordinated interests in first mortgage loans; residential real estate-related assets such as residential mortgage loans and residential mortgage-backed securities; and commercial finance assets such as asset-backed securities, structured note investments, syndicated corporate loans, and preferred equity investment in a commercial leasing enterprise.
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Buy (3.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com