REIT Colony Capital Sells a Preferred Issue

By: ,

REIT Colony Capital (ticker:CLNY) has sold a large preferred issue.  Coupon on the issue is 7.125% which in our opinion is too low as they have 2 issues outstanding with current yields of 7.32% and 8%.  The issue is perpetual and cumulative.

Details of this issue are here.

The issue will begin trading tomorrow on the OTC Grey market.

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