Ladenburg Thalmann Prices New Baby Bonds

Financial services company Ladenburg Thalmann (AMEX:LTS) has priced a new issue of baby bonds with a coupon of 7% and a maturity date of 2028.  This issue will be a quarterly paying security.

The issue is small in size with just $40 million being sold (1,604,000 shares/bonds).  Another 240,000 shares are reserved for overallotment.

The shares will trade on the AMEX under ticker LTSF.  It is likely it will be 1-2 weeks before trading begins as the offering is not expected to close until 5/30/2018.  There will be no OTC trading prior to permanent AMEX listing.

The term sheet on the pricing is here.

 

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