Preferred Stock Offerings
By Ru Back Packer Staff, updated Sunday, January 28, 12:44 PM
Slide #234. Colony Financial, Inc. — Preferred Stock Offering
||Colony Financial, Inc. (NYSE:CLNY)
|Date of Pricing:
|Price Per Share:
|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 real estate and investment management company. Co.'s primary target asset classes are as follows: Real Estate Equity, which consists of investment in the common and/or preferred equity of commercial property; Real Estate Debt, which consists of the origination or acquisition of mortgage and/or mezzanine loans secured by interests in commercial properties; and Investment Management, which consists of the management of private investment funds and vehicles on behalf of limited partner clients. Co. may also invest in other investments, such as real estate investment trust or real estate operating company equity and debt securities, among others.
Preferreds: CLNY.PRA, CLNY.PRB, CLNY.PRC
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