Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wed, May 8, 6:43 PM
This Slide: #619 of 620 |
Slide #619. SL Green Realty Corp. — Preferred Stock Offering
Company:
SL Green Realty Corp. (NYSE:SLG)
Underwriters:
Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Securities LLC
Shares Offered:
8,000,000
Date of Pricing:
8/7/2012
Price Per Share:
$25.00
Preferred Stock Offering Details:
SL Green Realty Corp. announced that it priced an underwritten public offering of 8,000,000 shares of its 6.50% Series I Cumulative Redeemable Preferred Stock (the "Series I Preferred Stock"). The shares of Series I Preferred Stock will have a liquidation preference of $25.00 per share. The Company has granted the underwriters an option to purchase up to an additional 1,200,000 shares of Series I Preferred Stock during the next 30 days solely to cover over-allotments, if any. The offering is expected to close on August 10, 2012, subject to customary closing conditions. The Company expects the estimated net offering proceeds, before expenses, to be $193.7 million (or $222.8 million if the underwriters exercise their over-allotment option in full).
SL Green Realty is a self-managed real estate investment trust. Co. is engaged in the acquisition, development, repositioning, ownership, management and operation of commercial and residential real estate properties, mainly office properties, located in the New York metropolitan area. Substantially all of Co.'s assets are held by, and all of its operations are conducted through, SL Green Operating Partnership, L.P. (the Operating Partnership).All of the management and leasing operations with respect to Co.'s properties are conducted through SL Green Management LLC (Management LLC). The Operating Partnership owns 100% of Management LLC.
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Hold (1.65 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
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