Associated Banc-Corp Joining the Preferred Issuance Party

Midwest banker Associated Banc-Corp (ABS) is joing the party to issue new preferred stock.

The company will be issuing ASB-F which will be a non-cumulative, qualified, split investment grade issue (BB from S&P and Baa3 from Moodys).

The company has 3 outstanding preferred issues which can be seen here. The ASB-C 6.125% issue is redeemable starting on 6/15/2020, but the company has not announced an intention to redeem the issue

The preliminary prospectus can be seen here.

mcg was on top of this new issue.

2 thoughts on “Associated Banc-Corp Joining the Preferred Issuance Party”

  1. There is already a great supply of BB and BB+ preferred from regional banks out there.

    Although not announced, I would have to think that ASB-C is a gonner.

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