Associated Banc-Corp Preferred Offering
By: Tim McPartland,
Associated Banc-Corp (ticker:ASB), a large Wisconsin regional bank, has sold a non cumulative offering which should be trading today on the OTC grey market. If you are not aware of how to buy preferred stocks ‘wholesale’ you can look at the discussion here.
The issue has a 6.125% coupon and is redeemable in 5 years. The issue is investment grade (ASB preferreds were just upgraded in May by Moodys).
Given that the issue is perpetual we do not have interest at this point in time.
Details of the issue are here.
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