Customers Bancorp (CUBI) and Gabelli Go Anywhere Trust (GGO) have both announced this morning that they will be redeeming preferred shares in the near future.
CUBI has 4 issues of fixed to floating rate preferred outstanding–which can be seen here. 3 of the 4 issues are currently floating and have current floating coupons that are in the 5.25-5.50% area. CUBI will be calling the CUBI-C 7.00% issue as well as the CUBI-D 6.50% issue on 9/15/2021 ASSUMING their new $1,000 fixed to floating rate senior note offering is sold as expected. The new note offering prospectus can be read here.
Thanks to EarlyBird, J and mbg for being on top of the action.