AXA Equitable Holdings Announces New Preferred Stock

Insurance/asset manager AXA Equitable Holdings (EQH) has announced a new issue of non-cumulative, fixed rate, perpetual preferred stock.

No doubt this will be another low coupon issue–readers are guessing 4.75% to 5%.

The issue will be lower investment grade–S&P has the rating at BBB-.

This will be the 1st preferred for AXA (at least for many years).

The preliminary prospectus can be found here.

mcg had this one on the Reader Initiated Alert page a couple hours ago.

12 thoughts on “AXA Equitable Holdings Announces New Preferred Stock”

    1. This must be a case of the first preferred from a company coming at a generous coupon. We’ve seen this recently with BXS-A and AQYVL. I’ll be buying this one if I can get it under par. 5.25% is good for BBB-. MS recently issued BB+ below 5%.

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