Texas homebuilder and land developer Green Brick Partners (GRBK) has announced they are selling a new perpetual preferred stock issue.
The $25/share issue will be cumulative .
There will be an optional early redemption starting in 2026.
Egan Jones rates the issue A.
EarlyBird was on top of this one and posits a potential yield in the 5.50% to 5.75% area.