REIT Colony Capital Sells a Preferred Issue
By: Tim McPartland,
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.