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Published on 3/6/2012 in the Prospect News Preferred Stock Daily.

Preferred Stock Calendar

On The Horizon

ALLSTATE CORP: $1.25 billion of preferreds and senior notes; proceeds to be used to repurchase $1 billion of stock and for repayment of 2012 debt; Northbrook, Ill.-based insurance company.

CREATIVE CASINOS, INC.: $90 million 7.5% senior redeemable perpetual preferred stock, non-callable for two years; downsized from $103.09 million; Jefferies, Morgan Stanley (joint); Rule 144A and Regulation S with registration rights; to fund construction of a new casino and hotel located in Lake Charles, La.; Las Vegas-based gaming, lodging and entertainment company.

GREENHUNTER ENERGY INC: $12.5 million of 10% series C cumulative preferred stock; $1.875 million over-allotment; $100 per share liquidation preference; investors receive 10 common stock warrants per preferred share, strike price of $2.00 per share; callable after 2015; C.K. Cooper & Co. (bookrunner and underwriter); proceeds for capital expenditures, working capital, acquisitions, directly or indirectly, of salt water disposal facilities, repayment or refinancing of debt, investments in subsidiaries, or general corporate purposes; Grapevine, Texas-based provider of water management services for oil and gas exploration in shale fields.

PREFERRED APARTMENT COMMUNITIES INC.: 2,000 to 150,000 preferred stock units containing one share of 6% series A redeemable preferred stock and warrants for 20 common shares; $1,000 per unit; monthly dividend; redeemable by holder after two years and by company after 10 years; International Assets Advisory LLC (book manager); proceeds will be used for acquisition of multifamily properties; Atlanta-based apartment managing company.


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