Banker US Bancorp will be selling a new issue of perpetual preferred (non-cumulative of course).
The company strongly investment grade and we would expect a coupon at a meager rate (5.50-5.625%).
The company has 3 preferred issues currently outstanding which can be seen here.
I would expect a lower rate probably 5%-5.20%
Hi George–I hope not–but they do have a 5.15% out there already so I guess anything is possible.