Data center REIT Digital Realty (NYSE:DLR) will sell a new fixed rate preferred. The company currently has 4 other preferreds outstanding.
The company just called for redemption of the DLR-H 7.375% issue so this new issue is no surprise.
The new issue appears to have the normal REIT preferred terms–cumulative, non qualified etc. with an early redemption available to the company starting in 2024. The issue is investment grade per Moodys (Baa3), but is 1 notch below investment grade per Standard and Poors (BB+)
The new issue will trade with the permanent ticker of DLR-K–the Grey Market ticker is not yet known.