Allstate’s new $500 million perpetual preferreds begin trading; AT&T preferreds see spike

By James McCandless

San Antonio, March 27 – The preferred stock market saw an increase in activity Tuesday, traders said, as a new pricing hit the market.

Allstate Corp.’s new $500 million of $25-par perpetual preferred series G shares began trading on Tuesday.

AT&T, Inc. has seen a spike in activity in its “TBB” preferreds in the past few days.

Citigroup’s preferred N shares continued their run of activity for a second day.

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