Insurance and annuity company Equitable Holdings (EQH) has announced the sale of a new issue of non-cumulative preferred stock.
The qualified issue should be split investment grade–BBB- by Standard and Poors and Ba1 by Moodys.
The company last sold a preferred in 2019 (EQH-A) which carries a coupon of 5.25% and trades in the $26.25 to $26.50 area.
‘Yield Talk’ on this new issue is around 4.375%.
This issue will trade OTC grey market–likely tomorrow and pricing will probably be announced after the market close today
razorback was on this one early.