Published on 5/24/2002 in the Prospect News High Yield Daily.
New Issue: Entertainment Properties sells $50 million preferreds at 9.5%
New York, May 24 - Entertainment Properties Trust priced $50 million of 9.5% series A cumulative redeemable preferred shares, according to a filing with the Securities and Exchange Commission.
The preferreds were priced on May 23 via lead manager Bear, Stearns & Co. Inc. The syndicate also included Prudential Securities, BB&T Capital Markets, Fahnestock & Co. Inc., Ferris Baker Watts Inc. and Stifel, Nicolaus & Co. Inc.
The Kansas City, Mo. movie theater real estate investment trust will use proceeds for general corporate purposes.
Issuer: | Entertainment Properties Trust
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Issue: | Series A cumulative redeemable preferred shares
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Amount: | $50 million (2 million shares)
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Greenshoe: | $7.5 million (300,000 shares)
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Maturity: | Perpetual
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Dividend: | 9.5%, payable quarterly beginning July 15, 2002
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Price: | Par of $25
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Call: | May 29, 2007 onwards at par
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Settlement: | May 29
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Listing: | "EPRprA" on New York Stock Exchange
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