Triton International Limited Prices New Preferred

Container company Triton International (TRTN) has priced their previously announced preferred stock.

The issue will have a fixed coupon of 7.375%. The issue is rated B+ by S&P.

The company is going “whole hog” on this issue with 7 million shares being sold (with no overallotment). Guess they are getting the cash while they can at this bargain rate. The other 2 issues outstanding were 3 and 5 million shares respectively.

Be cautious if buying this issue–the company is domiciled in Bermuda–brokers may try to charge $50 as a foreign company.

The pricing term sheet can be perused here.

10 thoughts on “Triton International Limited Prices New Preferred”

  1. zero @ ETrade

    Why anyone continues to maintain accounts at Vanguard or Fidelity I’ll never know.

    1. Quick, Vanguard has a massive corporate and tax free bond area that has helped me immensely. I have a large bond portfolio and few brokers concentrate on straight bonds. I compare their bonds, as I call my Merrill Edge broker and see who has the best offering price; 95% of the time Vanguard is superior. Yes, I pay a small commission buy the bonds and new issue preferreds on the Grey Sheets, but their customer service and accessibility are worth these tiny fees.
      “Each player must accept the cards life deals him or her. But once they are in hand, he or she alone must decide how to play the cards in order to win the game.” Voltaire
      Be Well, Nomad

    1. LBZ, Vanguard wanted to charge me $50 as well! I just put in an order with a Merrill Edge broker and there was no fee…
      Voltaire said “It is difficult to free fools from the chains they revere.”

            1. N/C @ Merrill and you can negotiate zero commissions with enough funds in the account Sorry for the typos on the previous post

        1. I told branch manager that I was very unhappy about fee on grey market trades and they gave me 20 free trades.

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