The OTC ticker is HPPCV–look for this to change in a day or two.
REIT Hudson Pacific Properties (HPP) has priced their previously announced preferred stock.
The issue prices at 4.75% for 16 million shares with another 2.4 million shares available for over- allotments.
The issue is investment grade per Moody’s at Baa3. S&P has the issue a couple notches below investment grade.
As typical for a REIT the issue is cumulative and non qualified.
The pricing term sheet can be found here.
2 thoughts on “Hudson Pacific Properties Prices New Preferred Issue – Ticker Update”
I think symbol changed to HPPCP. That’s how it shows up on TDA. Currently shows around $24.75.
I bought 400 shares of HPPCV at Etrade and my account is showing them with value $0 and not trading. I can’t find them under any ticker – anyone know what’s going on? Thanks.