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Floating-Rate Preferred

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Floating-rate preferred

Floating-Rate Preferred Stock
A preferred stock paying a dividend that varies from time to time. Usually, the dividend rate is the same as the interest rate on a Treasury security. They may also be backed by mortgages or mortgage-backed securities. Floating-rate preferred stocks tend to have stable prices because a drop in the common share's price is offset by a rise in bonds, and vice versa.


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Proceeds of the issue will be utilized for general corporate purposes including the repayment of existing floating-rate preferred shares and debt.
Issuer Default Rating (IDR) 'A+'; -- Floating-rate preferred stock, series A 'A-'; -- Fixed-rate preferred stock series B 'A-'; -- 6.
Issuer Default Rating (IDR) 'A+'; -- Floating-rate preferred stock, series A 'A-'; -- Fixed-rate preferred stock series B 'A-'; -- 6.
 
 
 
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