REIT PS Business Parks (PSB) will be selling a new preferred stock issue. PS Business Parks is a sister company to giant storage REIT Public Storage (PSA).
The company has 5 issues currently outstanding which can be seen here. As you can see there are 2 issues currently outstanding with coupons of 5.70% and 5.75%—both issues are trading lower today. The company has announced the intention of redeeming the 5.75% PSB-U issue.
Given the investment grade rating on the company we see a 5.25% coupon being likely (plus or minus 1/8%)
mcg was right on this new issue an hour ago on the Reader Initiated Alerts here.