Preferred Stock Calendar: Zions announces auction of floaters

Tuesday

ZIONS BANCORPORATION: Up to $100 million of series A floating-rate noncumulative perpetual preferred stock; to be priced via online auction; dividend set as greater of Libor plus 520 basis points or 4%; redeemable five years from issuance; Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Keefe Bruyette & Woods and Zions Direct Inc. (joint); proceeds will be used for redemption of the 9.5% series C noncumulative perpetual preferreds; Salt Lake City-based bank holding company.

On The Horizon

BOX SHIPS INC.: Series C cumulative redeemable perpetual preferred stock; 9% price talk; Maxim Group LLC, Ladenburg Thalmann & Co. Inc. and MLV & Co. LLC (joint); Global Hunter Securities and National Securities Corp. (lead managers); Aegis Capital Corp. (co-manager); redeemable in 2018 or in the event of a change of control; proceeds to redeem all outstanding series B-1 preferred shares, to repay all or some of an unsecured loan with Paragon Shipping and for general corporate purposes, which may include the repayment of debt and the acquisition of vessels; Voula, Greece-based international shipping company.

CHS INC.: $250 million of class B reset rate cumulative redeemable preferred stock; rate resets in 2023 and every 10 years thereafter; redeemable in 2023 or in the event of a change of control; BofA Merrill Lynch and Wells Fargo Securities LLC (joint); DA Davidson & Co. (co-manager); proceeds for general corporate purposes; Inver Grove Heights, Minn.-based integrated agricultural company.

CUSTOMERS BANCORP INC.: $25 million of $25-par senior notes due 2018; $3.75 million greenshoe; Janney Montgomery Scott LLC and Boennig & Scattergood Inc. (joint); proceeds will be used to invest in Customers Bank, to fund organic growth and for working capital and general corporate purposes; Wyomissing, Pa.-based bank holding company.

INTERNATIONAL SHIPHOLDING CORP.: $100-par series B cumulative redeemable perpetual preferreds; 9% price talk; redeemable on or after Oct. 30, 2018 or within 120 days of a change of control at par plus accrued dividends; dividend step-up feature; Incapital, DNB Markets, Sterne Agee & Leach, Euro Pacific Capital Inc. and Regions Securities LLC; proceeds for general corporate purposes and working capital; Mobile, Ala.-based provider of maritime transportation services to commercial and governmental customers.

MHI HOSPITALITY LP: At least $23 million of senior unsecured $25-par notes due 2018; redeemable 2016; Sandler O'Neill + Partners LP; proceeds to redeem all outstanding Sotherly Hotels Inc. preferred stock and for general corporate purposes; Williamsburg, Va.-based real estate investment trust.

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