Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for American Equity Investment Life Holding Co. > News item |
Fortress Transportation prices; AXA preferreds negative; American Equity loses
By James McCandless
San Antonio, Nov. 22 – The preferred market capped the week softer, with top traders weakening by the close.
In primary activity, Fortress Transportation & Infrastructure Investors LLC priced a $100 million offering of $25-par series B fixed-to-floating rate cumulative perpetual redeemable preferred shares at par with an initial dividend of 8%.
In secondary trading, AXA Equitable Holdings, Inc.’s new 5.25% series A fixed-rate non-cumulative perpetual preferred stock finished negative. The preferreds, trading under the temporary symbol “AXQEL,” were down 2 cents to close at $24.84 on volume of about 1.5 million shares.
Elsewhere in finance, JPMorgan Chase & Co.’s 4.75% series GG non-cumulative perpetual preferreds were active but closed level at $25.17 with about 574,000 shares trading.
Sector peer Synchrony Financial’s 5.625% series A non-cumulative perpetual preferred stock lost 8 cents to close at $25.30 on volume of about 357,000 shares.
Annuities provider American Equity Investment Life Holding Co.’s new 5.95% series A fixed-rate reset non-cumulative preferreds followed the trend.
Meanwhile, REIT Global Net Lease, Inc.’s new 6.875% series B cumulative redeemable perpetual preferred stock dived.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.