Indiana banker Merchants Bancorp (MBIN) has priced their most recent offering of preferred stock.
The issue prices at 7.625% for 9.2 million shares.
The issue is rated Ba3 by Moodys.
The pricing term sheet can be found here.
Merchants Bancorp Prices New, Large, Preferred Offering
I had 5.25-5.50% 3-mo CDs with these guys earlier in the year and was slightly worried about their CRE exposure (though very slight with a short-term CD vs. preferred). No issues. Picked up some 4.55% 3-mo CDs this week with Glens Falls Bank in NY.
moderately below par on a million shares
https://www.otcmarkets.com/stock/MBIEV/overview