AT&T (T) has announced the coming issuance of a new series of fixed rate preferred stock. The company is also selling a fixed rate reset euro preferred.
This will trade under the permanent ticker of T-C when it finally hits the big board for trading. The issue will trade on the OTC Grey market prior to the big board, but the ticker has not yet been announced.
The company currently has a 5% perpetual outstanding which can be seen here. This issue trades very strong at $26.40.
The preliminary prospectus can be read here.
EarlyBird is hearing yield talk in the 4.875-5% area.
Ptrader and EarlyBird were on this new issue right away.