CHS Prices Large Preferred Issue

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September 9, 2014   8:30 am

For those that have been following CHS (Cenex Harvest States) you  are aware that they were going to be offering more preferred stock soon–and they have priced a new offering of 19 million shares.

This is a reset rate that is fixed at 6.75% until 2024 and then floating at 3 month libor plus 4.155%, but no more than 8%.


We will be studying the possible bloom coming off this rose — this has always been a great performer, but maybe the huge issuance (and more to come) will start to knock these values on CHS issues down a bit.

Details are here.

Thanks to Mark G for the quick ‘heads up’ on this issue.

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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