Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thu, April 25, 6:48 AM
This Slide: #440 of 620 |
Slide #440. Colony Financial, Inc. — Preferred Stock Offering
Company:
Colony Financial, Inc. (CLNY)
Date announced:
6/11/2014
Shares Offered:
3,000,000
Date of Pricing:
6/12/2014
Price Per Share:
$25
Preferred Stock Offering Details:
Colony Financial, Inc. (the "Company") (NYSE:CLNY) today announced it has commenced an underwritten public offering of its shares of Series B Cumulative Redeemable Perpetual Preferred Stock. Barclays, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan and UBS Investment Bank are acting as joint book-running managers for the offering. Keefe, Bruyette & Woods, a Stifel Company, is acting as co-manager. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series B Preferred Stock initially sold to the public to cover overallotments. The Company intends to file an application to list the Series B Preferred Stock on the New York Stock Exchange. - updated 6/13 - Colony Financial, Inc. (the "Company") (NYSE:CLNY) today announced it has priced 3,000,000 shares of 7.50% Series B Cumulative Redeemable Perpetual Preferred Stock ("Series B Preferred Stock") with a liquidation preference of $25.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase an additional 450,000 shares of the 7.50% Series B Preferred Stock on the same terms and conditions solely to cover over-allotments, if any. The offering is expected to close on or about June 19, 2014, subject to customary closing conditions. Barclays, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan and UBS Securities LLC are acting as joint book-running managers for the offering. Keefe, Bruyette & Woods, a Stifel Company, is acting as co-manager.
Colony Capital is a holding company. Through its subsidiaries, Co. is an investment firm with a focus on identifying and capitalizing on secular trends in digital real estate. Co. conducts its operations as a real estate investment trust. Co. is an owner, operator and investment manager of digital infrastructure and real estate. Co. owns, manages, and/or operates across all main infrastructure components of the digital ecosystem including data centers, cell towers, fiber networks and small cells. Co. conducts its business through five reportable segments as follows: Digital Investment Management; Digital Operating; Digital Other; Wellness Infrastructure; and Other.
Preferreds: CLNY.PRB, CLNY.PRA, CLNY.PRF, CLNY.PRC, CLNY.PRD, CLNY.PRE, CLNY.PRG, CLNY.PRH, CLNY.PRI, CLNY.PRJ
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Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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