Stifel Financial Corporation (SF) will be offering a new issue of preferred stock in what is likely to be a ‘refinancing’ transaction.
SF has 4 other preferred issues outstanding including a 6.25% issue (SF-A) which becomes redeemable today.
While SF has not stated the intention to definitely call the SF-A issue it was listed as a possibility.
The preliminary prospectus can be found here.
J was on top of this one.
11 thoughts on “Stifel Financial to Offer New Preferred Issue”
7/21 – SF-A Call Notice
ST. LOUIS, July 21, 2021 – Stifel Financial Corp. (NYSE: SF) today announced that it will redeem all 6,000,000 of its depositary shares relating to its 6.25% Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”) (NYSE: SF PRA). The redemption price will be $25.00 per depositary share plus accrued and unpaid dividends to, but excluding, the date of redemption, August 20, 2021.
4.5% seems about right — may have left a Happy Meal on the table for the flippers.
Don’t know the price of this issue yet.
Price range was listed as 4.50% to 4.625%
All my orders were filled however.
And if I’m not satisfied with the price, I can decline to complete the trade.
What a Thursday.
Is there a sticker coming ?
4.50%. BB-. Guess ticker will issue tom morning.
Pretty stingy on common dividends…payout ratio is less than 15%. FCF provides more than ample coverage of the yield.
New Issue Stifel Financial Corp (NYSE: SF)
Series D Fixed Rate Non-Cumulative Redeemable
Perpetual Preferred Depositary Shares
Does anyone know anything about Stifel?
Well respected BD out of st Louis
Thank you for helping me out