CAI International 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock

By: ,

Date Issued   8/6/2018

Shares Issued   1,700,000   Overallotment  255,000

S&P Rating   NR   Moodys Rating   NR

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Security Ticker Symbol   CAI-B   OTC Grey Market   CAIIP

Market Traded ON   NYSE

Dividend Payment Paid on the 15th of January, April, July and October beginning on 10/15/2018

Quarterly Dividend   .531   Annual Dividend   2.125

Securities may be redeemed, at the issuers option, as early as 08/30/2023 for a redemption price of $25/share plus accrued dividends

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On August 15, 2023 the coupon will float at a rate of 3 month Libor and a spread of 5.687%.

Dividend Payment Will Likely be a Qualified Distribution

Maturity Date   None

 

Company Investor Relations Page for CAI International

Click Here to find the offering Prospectus and Final Pricing Document

Tim McPartland

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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