REIT Urstadt Biddle (NYSE:UBP) has priced their previously announced new fixed rate preferred issue.
The fixed rate will be 5.875%–about where one would think in the current interest rate environment.
The company is selling 4 million shares and it will be listed on the permanent exchange as UBP-K.
The OTC Grey Market ticker will be UTBPP.
The SEC documents have not be posted yet–we will post a detail form as soon as the filing is in.
The company press release on the issue can be found here (scroll way down the page).