Virginia banker Atlantic Union Bankshares (AUB) has priced their previously announced non cumulative preferred.
The coupon will be a fixed rate of 6.875%.
Shares will trade today on the OTC grey market under temporary ticker AUBKL.
The shares are unrated by the big 3 ratings agencies, but are rated BBB- by Kroll Rating Service.
If this issue trades at $25 or less I may buy a position–which likely would be a ‘flip’ as I am not likely to hold a non investment grade issue at this time for long.