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 bookrunners); 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.

KCAP FINANCIAL INC.: $30 million of $25-par senior notes, including greenshoe; New York-based internally managed, non-diversified, closed-end investment company.

SOUTHERN FIRST BANCSHARES INC.: $17.29 million fixed-rate series T cumulative perpetual preferreds; $1,000 liquidation preference; to be sold by Treasury Department; dividend is initially 5% and will increase to 9% on May 15, 2014; company will not receive any proceeds from the sale; Greenville, S.C.-based holding company for Southern First Bank NA.

YADKIN VALLEY FINANCIAL CORP.: $49.31 million of fixed-rate cumulative perpetual preferreds including $36 million of series T preferreds and $13.31 million of series T-ACB preferreds; $1,000 liquidation preference; to be sold by Treasury Department; dividend is initially 5% and will increase to 9% five years after issuance; company will not receive any proceeds from the sale; Statesville, N.C.-based bank.

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