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Published on 11/20/2015 in the Prospect News Investment Grade Daily.

Maiden, Endurance trade under temporary symbols; U.S. Cellular; National Bank of Greece up

By Stephanie N. Rotondo

Seattle, Nov. 20 – New issues from the week continued to be in focus in early Friday preferred stock trading, according to a trader.

The issues were also popping “a little bit,” the trader said.

Maiden Holdings Ltd.’s $150 million of 7.125% series C noncumulative preference shares closed at $24.78, which was up 8 cents from Thursday’s close but down from opening levels of $24.90.

The deal came Wednesday and freed to trade on Thursday. The trader said the shares were assigned a temporary reporting symbol on Friday, “MDNHF.”

Meanwhile, Endurance Specialty Holdings Ltd.’s $200 million of 6.35% series C noncumulative preferreds were pegged at $24.85 bid, $24.90 offered early in the session.

The issue finished at $24.88, up 8 cents day over day and better than opening levels of $24.83.

Like Maiden, the issue has been assigned a temporary symbol, “ENHFF.”

From Monday’s business, United States Cellular Corp.’s $300 million of 7.25% $25-par senior unsecured notes due 2064 were seen at $24.87 bid, $24.90 offered.

National Bank of Greece SA’s $2.25 series A noncumulative preference shares (NYSE: NBGPA) were one of the day’s more actively traded issues after it announced late Thursday that it had wrapped the book-building process on a private placement of new ordinary shares.

The preferred shares rose $1.70, or 22.22%, to $9.35.


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