Container owner and lessor Triton International (NYSE:TRTN) is offering a new fixed rate issue of preferred stock. The company is a large company with $10 billion in assets (and also $7 billion in debt).
The company currently has an 1 other current issue of preferred outstanding with a coupon of 8.50% which was sold last March and has traded strongly at over $26/share. The old issue was rated B+ by S&P (junk grade).
This issue will be cumulative and optionally redeemable in 2024. The permanent ticker will be TRTN-B when it reaches the big board. The issue will trade on the OTC Grey market, but the ticker is not announced yet.