Insurance company Selective Insurance (SIGI) will be selling a new issue of preferred stock.
It has been quite a while since SIGI has had an outstanding baby bond or preferred stock–they had a baby bond redeemed on 3/26/2019 and nothing since then.
I am not seeing new ratings on this issue, but I believe it will be a notch or so below investment grade.
The issue will be non cumulative, qualified and will have the normal optional redemption date in about 5 years–12/15/2025.
The permanent ticker will be SIGIP–it should trade on the OTC Grey market tomorrow, but the ticker is yet unknown.
mcg was on this one.