Natural gas utility Spire Inc. (NYSE:SR) has priced a new issue of perpetual preferred stock.
Spire serves 1.7 million natural gas customers through the states of Missouri, Mississippi and Alabama.
The new issue of 10 million shares has been priced at 5.90% and has a BBB rating from Standard and Poors (investment grade) and Ba1 from Moodys.
The issue will have the normal early redemption period starting 8/15/2024.
Dividends are cumulative and should be qualified for preferential tax treatment.
The issue will trade immediately on the OTC Grey market under the temporary ticker SIPRY.