PreferredStockChannel
International Shipholding Corp. | 9.00% Series B Cumulative Redeemable Perpetual Preferred Stock (ISH.PRB)

Prospectus excerpt:  We are offering 275,000 shares of our 9.00% Series B Cumulative Redeemable Perpetual Preferred Stock, par value $1.00 per share, liquidation preference $100.00 per share (the ôSeries B Preferred Sharesö).

Dividends on the Series B Preferred Shares will be cumulative from the date of original issue and will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, commencing October 30, 2013, when, as and if declared by our board of directors. Dividends will be payable out of amounts legally available therefor at an initial rate equal to 9.00% per annum per $100.00 of stated liquidation preference per share.

Commencing on October 30, 2018, we may redeem, at our option, the Series B Preferred Shares, in whole or in part, at a cash redemption price of $100.00 per share, plus any accrued and unpaid dividends to, but not including, the redemption date. If at any time a ôChange of Control,ö as defined in this prospectus supplement, occurs, we will have the option to redeem the Series B Preferred Shares, in whole, within 120 days after the date of the Change of Control at the same cash redemption price. The Series B Preferred Shares have no stated maturity, will not be subject to any sinking fund or other mandatory redemption, and will not be convertible into or exchangeable for any of our other securities.

Full Prospectus PDF », ISH Page »

Series:B
Alternate symbology:ISH-B, ISH-PB, ISHprB
Redeemable?:Yes
Call Date:10/30/2018 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:275,000
Overallotment:41,250
Liquidation Preference:$100
Original Coupon:9.00%
Pay Period:Quarterly
Pay Dates:30-Jan, 30-Apr, 30-Jul, 30-Oct
CDx3 Compliance Rating: Learn ISH.PRB's Rating
International Shipholding is a holding company. Co. operates a fleet of U.S. and International Flag vessels that provide international and domestic maritime transportation services to commercial and governmental customers. Co. has operations in markets including international service between U.S. Gulf Coast, U.S. East Coast, and U.S. West Coast ports and ports in Mexico, the Middle East and the Far East, and domestic transportation services along the U.S. Gulf Coast and East Coast. Co. has six operating segments: Jones Act; Pure Car Truck Carriers; Dry Bulk Carriers; Rail-Ferry; Specialty Contracts; and Other. As of Dec 31 2014, Co. owned or operated a total of 54 ocean-going vessels.

Preferreds: ISH.PRA, ISH.PRB


Open the ISH Information Page »
Name: 
International Shipholding Corp.
Website: 
www.intship.com
Sector: 
Shipping

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