PreferredStockChannel
6.375% Series A Term Preferred Stock Due 2025 (PRIF.PRA)

Prospectus excerpt:  We are offering 1,360,000 shares of our 6.375% Series A Term Preferred Stock due 2025, or the “Series A Term Preferred Stock.” We are required to redeem all outstanding shares of the Series A Term Preferred Stock on June 30, 2025, at a redemption price of $25 per share, or the “Liquidation Preference,” plus accumulated but unpaid dividends, if any, to, but excluding, the Redemption Date (as defined below). See “Description of the Series A Term Preferred Stock - Redemption - Term Redemption.” At any time after June 30, 2021, we may, at our sole option, redeem the outstanding shares of the Series A Term Preferred Stock at a redemption price per share equal to the Liquidation Preference plus accumulated but unpaid dividends, if any, to, but excluding, the Redemption Date. See “Description of the Series A Term Preferred Stock - Redemption - Optional Redemption.” In addition, if we fail to maintain an asset coverage ratio of at least 200%, we will be required to redeem the number of shares of our preferred stock (which at our discretion may include any number or portion of the Series A Term Preferred Stock) that, when combined with any debt securities redeemed for failure to maintain the asset coverage required by the indenture governing such securities, (1) results in us having asset coverage of at least 200%, or (2) if fewer, the maximum number of shares of preferred stock that can be redeemed out of funds legally available for such redemption. See “Description of the Series A Term Preferred Stock - Redemption - Mandatory Redemption for Asset Coverage.” We intend to pay quarterly dividends on the Series A Term Preferred Stock, when, as and if declared by, or under authority granted by, the Company’s Board of Directors, out of funds legally available therefor, at an annual rate of 6.375% of the Liquidation Preference, or $1.59375 per share per year, for the shares of Series A Term Preferred Stock. Quarterly dividends are scheduled to be paid on March 31, June 30, September 30 and December 31 of each year. The Series A Term Preferred Stock ranks senior in right of payment to our common stock, ranks equally in right of payment with any shares of preferred stock we may issue in the future and is subordinated in right of payment to our existing and future senior indebtedness. Each holder of the Series A Term Preferred Stock is entitled to one vote on each matter submitted to a vote of our stockholders, and the holders of all of our

Full Prospectus PDF »

Series:A
Alternate symbology:PRIF-A, PRIF-PA, PRIFprA
Redeemable?:Yes
Call Date:6/30/2021 (Now Trading Post Call Date)
Maturity Date:6/30/2025
Cumulative?:Yes
Shares Offered:1,360,000
Overallotment:204,000
Liquidation Preference:$25
Original Coupon:6.38%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn PRIF.PRA's Rating

Quotes delayed 20 minutes

Email EnvelopeFree Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

6.375% Series A Term Preferred Stock Due 2025 (PRIF.PRA) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com

Copyright © 2010 - 2021, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.