Iberiabank Sells a Fixed to Floating Preferred Issue – Corrected

By: ,

Louisiana banker Iberiabank Corporation has sold a new fixed to floating non cumulative perpetual preferred stock offering.

The issue was scheduled to start trading on the OTC grey market today.

This is a dividend qualified issue that begins with a coupon of 6.625% and begins to float in 2025.

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NOTE–this issue pays dividends just twice a year.  When it begins floating the coupon in 2025 it will pay dividends quarterly.

This is a non rated issue.

Details of this issue are here.

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