Update–The OTC temporary ticker for this issue will be BIPFF
Brookfield Infrastructure Partners (BIP) has announced they will be selling a new preferred unit (it is a partnership so they are units instead of stock).
The company currently has 1 other preferred unit outstanding–a 5.125% coupon issue (BIP-A). This issue had traded up toward $27 recently, but has falllen to $25.22 in the last week.
This issue will generate a k-1 at tax time.